Bank of New York Mellon Corp cut its stake in United States Steel Co. (NYSE:X – Get Rating) by 31.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,609,230 shares of the basic materials company's stock after selling 1,224,861 shares during the period. Bank of New York Mellon Corp owned 1.11% of United States Steel worth $47,280,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Avion Wealth increased its position in shares of United States Steel by 25.0% during the third quarter. Avion Wealth now owns 2,500 shares of the basic materials company's stock valued at $45,000 after acquiring an additional 500 shares in the last quarter. Captrust Financial Advisors grew its position in United States Steel by 1.5% in the 2nd quarter. Captrust Financial Advisors now owns 35,254 shares of the basic materials company's stock worth $631,000 after purchasing an additional 514 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in United States Steel by 0.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 90,404 shares of the basic materials company's stock worth $1,638,000 after purchasing an additional 566 shares during the period. Rockefeller Capital Management L.P. grew its position in United States Steel by 2.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 24,788 shares of the basic materials company's stock worth $449,000 after purchasing an additional 586 shares during the period. Finally, Inspire Investing LLC grew its position in United States Steel by 5.3% in the 3rd quarter. Inspire Investing LLC now owns 12,431 shares of the basic materials company's stock worth $225,000 after purchasing an additional 631 shares during the period. 75.02% of the stock is currently owned by hedge funds and other institutional investors.
Get
United States Steel alerts:
Wall Street Analysts Forecast Growth
A number of research firms have commented on X. BMO Capital Markets lifted their target price on shares of United States Steel from $25.00 to $33.00 and gave the stock a "market perform" rating in a research report on Monday, February 6th. Morgan Stanley lifted their target price on shares of United States Steel from $20.00 to $31.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 8th. The Goldman Sachs Group lifted their target price on shares of United States Steel from $23.00 to $26.00 and gave the stock a "sell" rating in a research report on Monday, February 6th. Finally, Bank of America began coverage on shares of United States Steel in a research report on Wednesday, January 4th. They set an "underperform" rating for the company. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $29.29.
Insider Activity at United States Steel
In other news, Director Andrea J. Ayers bought 1,000 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were bought at an average price of $31.45 per share, for a total transaction of $31,450.00. Following the purchase, the director now owns 5,014 shares in the company, valued at $157,690.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other United States Steel news, SVP Richard Fruehauf sold 37,500 shares of the business's stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $31.38, for a total value of $1,176,750.00. Following the sale, the senior vice president now owns 57,826 shares in the company, valued at approximately $1,814,579.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrea J. Ayers purchased 1,000 shares of the firm's stock in a transaction on Friday, March 3rd. The stock was bought at an average price of $31.45 per share, for a total transaction of $31,450.00. Following the purchase, the director now owns 5,014 shares in the company, valued at $157,690.30. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.
United States Steel Trading Down 5.6 %
Shares of X stock opened at $27.21 on Friday. United States Steel Co. has a 1 year low of $16.41 and a 1 year high of $39.25. The firm has a fifty day moving average price of $28.43 and a 200-day moving average price of $24.70. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.99 and a quick ratio of 1.39. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 3.03 and a beta of 2.20.
United States Steel (NYSE:X – Get Rating) last released its earnings results on Friday, February 3rd. The basic materials company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.27. United States Steel had a net margin of 11.98% and a return on equity of 26.75%. The company had revenue of $4.34 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter in the previous year, the company earned $3.64 EPS. United States Steel's revenue for the quarter was down 22.8% on a year-over-year basis. As a group, equities analysts predict that United States Steel Co. will post 1.91 earnings per share for the current year.
United States Steel Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 14th. Investors of record on Monday, February 13th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, February 10th. United States Steel's dividend payout ratio (DPR) is 2.23%.
United States Steel Company Profile
(Get Rating)
United States Steel Corp. engages in the manufacturing and selling of steel products. It operates through the following business segments: Flat-Rolled Products, Mini Mill, U.S. Steel Europe, and Tubular Products. The Flat-Rolled Products segment includes managing steel plants and production facilities that manufacture steel slabs, rounds, strip mill plates, sheets, tin mill, iron ore, and coke.
Read More
- Get a free copy of the StockNews.com research report on United States Steel (X)
- What the SVB Financial Collapse Means for U.S. Banks
- MarketBeat Week in Review – 3/6 – 3/10
- 2 Offshore Drilling Stocks Set to Extract Big Profits
- Three Staples Stocks With Double-Digit Upside Ahead
- Can Investors Trust Consumers to Lift American Outdoor Brands?
Receive News & Ratings for United States Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United States Steel and related companies with MarketBeat.com's FREE daily email newsletter.
