Brandywine Global Investment Management LLC Has $3.90 Million Stake in United States Steel Co. (NYSE:X)
Brandywine Global Investment Management LLC decreased its stake in shares of United States Steel Co. (NYSE:X – Free Report) by 3.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 149,240 shares of the basic materials company’s stock after selling 4,999 shares during the period. Brandywine Global Investment Management LLC owned 0.07% of United States Steel worth $3,895,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in X. Norges Bank acquired a new stake in United States Steel in the 4th quarter valued at approximately $61,925,000. First Trust Advisors LP grew its holdings in United States Steel by 155.8% in the 1st quarter. First Trust Advisors LP now owns 3,309,824 shares of the basic materials company’s stock valued at $124,913,000 after buying an additional 2,015,980 shares during the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of United States Steel by 34.8% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,561,945 shares of the basic materials company’s stock worth $89,227,000 after purchasing an additional 920,120 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of United States Steel by 169.3% during the 4th quarter. Deutsche Bank AG now owns 1,142,242 shares of the basic materials company’s stock worth $28,613,000 after purchasing an additional 718,140 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of United States Steel during the 1st quarter worth approximately $18,208,000. Institutional investors and hedge funds own 74.60% of the company’s stock.
Insider Buying and Selling at United States Steel
In other United States Steel news, SVP Duane D. Holloway sold 23,406 shares of United States Steel stock in a transaction on Monday, August 14th. The stock was sold at an average price of $31.00, for a total value of $725,586.00. Following the completion of the transaction, the senior vice president now directly owns 105,800 shares of the company’s stock, valued at approximately $3,279,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Duane D. Holloway sold 23,406 shares of United States Steel stock in a transaction on Monday, August 14th. The stock was sold at an average price of $31.00, for a total value of $725,586.00. Following the transaction, the senior vice president now owns 105,800 shares in the company, valued at approximately $3,279,800. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kenneth E. Jaycox sold 10,756 shares of United States Steel stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $30.75, for a total value of $330,747.00. Following the completion of the transaction, the senior vice president now owns 85,480 shares in the company, valued at approximately $2,628,510. The disclosure for this sale can be found here. Insiders sold 92,974 shares of company stock valued at $2,938,317 in the last three months. Corporate insiders own 0.98% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on X shares. BMO Capital Markets cut their target price on United States Steel from $27.00 to $26.00 in a research report on Monday, July 31st. JPMorgan Chase & Co. decreased their price objective on United States Steel from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Friday, July 14th. StockNews.com started coverage on United States Steel in a research report on Saturday. They set a “hold” rating for the company. BNP Paribas downgraded United States Steel from an “outperform” rating to a “neutral” rating and set a $26.00 target price on the stock. in a research report on Wednesday, July 5th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $25.00 price target on shares of United States Steel in a research note on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.00.
Get Our Latest Research Report on X
United States Steel Stock Performance
Shares of NYSE X opened at $31.19 on Wednesday. The company has a market capitalization of $6.95 billion, a P/E ratio of 6.00 and a beta of 2.14. The stock has a 50 day moving average of $26.70 and a 200-day moving average of $25.31. The company has a current ratio of 1.92, a quick ratio of 1.30 and a debt-to-equity ratio of 0.38. United States Steel Co. has a 12 month low of $17.89 and a 12 month high of $32.52.
United States Steel (NYSE:X – Get Free Report) last released its quarterly earnings results on Friday, July 28th. The basic materials company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.06. The business had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $5.11 billion. United States Steel had a return on equity of 13.51% and a net margin of 7.05%. The firm’s revenue for the quarter was down 20.4% compared to the same quarter last year. During the same period last year, the firm posted $3.86 EPS. As a group, equities research analysts predict that United States Steel Co. will post 3.97 EPS for the current year.
United States Steel Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Monday, August 7th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, August 4th. This represents a $0.20 annualized dividend and a yield of 0.64%. United States Steel’s payout ratio is currently 3.85%.
United States Steel Profile
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through four segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.
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