Range Financial Group LLC purchased a new position in shares of United States Steel Co. (NYSE:X – Get Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 28,100 shares of the basic materials company’s stock, valued at approximately $1,061,000.
Several other institutional investors have also recently made changes to their positions in the company. Delphia USA Inc. increased its holdings in United States Steel by 11.1% during the first quarter. Delphia USA Inc. now owns 38,359 shares of the basic materials company’s stock valued at $1,448,000 after buying an additional 3,820 shares during the period. Forum Financial Management LP purchased a new position in shares of United States Steel in the 1st quarter valued at $206,000. Guggenheim Capital LLC raised its position in shares of United States Steel by 28.0% in the 1st quarter. Guggenheim Capital LLC now owns 68,467 shares of the basic materials company’s stock worth $2,584,000 after acquiring an additional 14,984 shares in the last quarter. Journey Strategic Wealth LLC lifted its stake in shares of United States Steel by 4.5% during the 1st quarter. Journey Strategic Wealth LLC now owns 11,395 shares of the basic materials company’s stock worth $430,000 after purchasing an additional 495 shares during the last quarter. Finally, PDT Partners LLC boosted its position in United States Steel by 24.7% during the first quarter. PDT Partners LLC now owns 85,500 shares of the basic materials company’s stock valued at $3,227,000 after purchasing an additional 16,930 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.
Analyst Ratings Changes
X has been the subject of several analyst reports. BMO Capital Markets decreased their price target on shares of United States Steel from $30.00 to $23.00 in a research report on Friday, June 17th. Morgan Stanley raised their target price on shares of United States Steel from $20.00 to $21.50 and gave the company an “equal weight” rating in a research note on Monday, August 1st. Credit Suisse Group reduced their price target on United States Steel from $49.00 to $44.00 and set an “outperform” rating on the stock in a research report on Friday, June 17th. Citigroup raised their price objective on United States Steel to $27.00 in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their target price on United States Steel from $34.00 to $28.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 14th. Three analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $28.75.
United States Steel Stock Performance
United States Steel (NYSE:X – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The basic materials company reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.85 by $0.01. United States Steel had a return on equity of 49.21% and a net margin of 21.59%. The firm had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same period last year, the business posted $3.37 earnings per share. The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. As a group, research analysts expect that United States Steel Co. will post 9.92 earnings per share for the current year.
United States Steel Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Monday, August 8th were paid a $0.05 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.89%. United States Steel’s payout ratio is currently 1.17%.
United States Steel announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 28th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase up to 8.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
About United States Steel
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.
- Get a free copy of the StockNews.com research report on United States Steel (X)
- Is Five Below Trying to Punch Too High?
- These 3 Reports Will Tell Us Much About the Current Economy
- This Is What To Expect From The S&P 500 Now
- The Two Things You Need To Know About Oracle’s FQ1 Report
- Three Value Stocks For A Volatile Market
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.