Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of United States Steel Co. (NYSE:X – Free Report) by 44.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,024 shares of the basic materials company’s stock after selling 30,199 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in United States Steel were worth $1,235,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of United States Steel in the 4th quarter valued at approximately $61,925,000. First Trust Advisors LP grew its stake in shares of 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 period. KGH Ltd grew its stake in shares of United States Steel by 38.6% in the 2nd quarter. KGH Ltd now owns 4,173,769 shares of the basic materials company’s stock valued at $104,386,000 after buying an additional 1,163,000 shares during the period. Balyasny Asset Management L.P. grew its stake in shares of United States Steel by 930.3% in the 1st quarter. Balyasny Asset Management L.P. now owns 1,252,910 shares of the basic materials company’s stock valued at $32,701,000 after buying an additional 1,131,304 shares during the period. Finally, Barclays PLC grew its stake in shares of United States Steel by 181.4% in the 2nd quarter. Barclays PLC now owns 1,710,355 shares of the basic materials company’s stock valued at $42,777,000 after buying an additional 1,102,512 shares during the period. Hedge funds and other institutional investors own 74.60% of the company’s stock.
Insider Buying and Selling
In related news, SVP Daniel R. Brown sold 5,000 shares of United States Steel stock in a transaction on Friday, November 24th. The shares were sold at an average price of $35.00, for a total transaction of $175,000.00. Following the sale, the senior vice president now directly owns 91,968 shares in the company, valued at approximately $3,218,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Daniel R. Brown sold 5,000 shares of United States Steel stock in a transaction on Friday, November 24th. The shares were sold at an average price of $35.00, for a total transaction of $175,000.00. Following the sale, the senior vice president now directly owns 91,968 shares in the company, valued at approximately $3,218,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David B. Burritt sold 252,458 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $50.01, for a total transaction of $12,625,424.58. Following the transaction, the chief executive officer now directly owns 581,609 shares in the company, valued at $29,086,266.09. The disclosure for this sale can be found here. Insiders have sold 262,458 shares of company stock worth $13,049,275 in the last ninety days. 0.98% of the stock is owned by corporate insiders.
United States Steel Price Performance
United States Steel stock opened at $46.00 on Friday. The firm has a market cap of $10.29 billion, a PE ratio of 13.11 and a beta of 2.04. United States Steel Co. has a 52-week low of $20.40 and a 52-week high of $50.20. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $46.55 and its two-hundred day moving average is $37.10.
United States Steel (NYSE:X – Get Free Report) last announced its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.46. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. The business had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period last year, the business earned $0.87 EPS. The company’s revenue was down 4.5% on a year-over-year basis. On average, research analysts expect that United States Steel Co. will post 2.92 EPS for the current fiscal year.
United States Steel Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 13th. Investors of record on Monday, February 12th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, February 9th. This represents a $0.20 annualized dividend and a yield of 0.43%. United States Steel’s dividend payout ratio is currently 5.70%.
Analysts Set New Price Targets
Several analysts have recently weighed in on the stock. StockNews.com began coverage on shares of United States Steel in a research note on Saturday. They issued a “hold” rating for the company. JPMorgan Chase & Co. began coverage on shares of United States Steel in a research report on Friday, January 12th. They set a “neutral” rating and a $52.00 price objective for the company. Morgan Stanley cut shares of United States Steel from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $40.00 to $51.00 in a research report on Thursday. Argus cut shares of United States Steel from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, Royal Bank of Canada lowered their price objective on shares of United States Steel from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.78.
View Our Latest Stock Analysis on United States Steel
United States Steel Profile
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.
Further Reading
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