Alps Advisors Inc. bought a new stake in United States Steel Co. (NYSE:X – Get Rating) during the second quarter, HoldingsChannel.com reports. The fund bought 10,768 shares of the basic materials company’s stock, valued at approximately $193,000.
A number of other institutional investors and hedge funds also recently modified their holdings of X. GQG Partners LLC bought a new position in United States Steel in the 1st quarter valued at about $351,087,000. Dimensional Fund Advisors LP raised its holdings in United States Steel by 11.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,969,346 shares of the basic materials company’s stock valued at $263,015,000 after acquiring an additional 742,370 shares during the period. First Trust Advisors LP raised 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 acquiring an additional 2,015,980 shares during the period. Thompson Siegel & Walmsley LLC raised its holdings in United States Steel by 195.1% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 2,456,044 shares of the basic materials company’s stock valued at $43,987,000 after acquiring an additional 1,623,882 shares during the period. Finally, Banco Santander S.A. bought a new position in United States Steel in the 1st quarter valued at about $62,648,000. 79.08% of the stock is owned by institutional investors.
Analyst Ratings Changes
X has been the topic of a number of analyst reports. Morgan Stanley decreased their target price on shares of United States Steel from $21.50 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 2nd. Credit Suisse Group decreased their target price on shares of United States Steel from $44.00 to $37.00 and set an “outperform” rating on the stock in a research report on Friday, September 16th. Citigroup raised their target price on shares of United States Steel to $27.00 in a research report on Tuesday, September 13th. StockNews.com began coverage on shares of United States Steel in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, The Goldman Sachs Group lowered their target price on shares of United States Steel from $21.00 to $18.00 and set a “sell” rating for the company in a research note on Thursday, October 6th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, United States Steel presently has a consensus rating of “Hold” and an average price target of $24.88.
United States Steel Trading Up 0.6 %
United States Steel (NYSE:X – Get Rating) last posted its quarterly earnings results on Friday, October 28th. The basic materials company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.02. United States Steel had a net margin of 15.30% and a return on equity of 35.74%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the firm posted $5.36 earnings per share. The business’s revenue was down 12.8% compared to the same quarter last year. Analysts predict that United States Steel Co. will post 9.29 EPS for the current fiscal year.
United States Steel Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Monday, November 7th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, November 4th. United States Steel’s dividend payout ratio is currently 1.66%.
United States Steel declared that its Board of Directors has initiated a share repurchase plan on Thursday, July 28th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the basic materials company to repurchase up to 8.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors 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.
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