Allspring Global Investments Holdings LLC Buys 3,199 Shares of United States Steel Co. (NYSE:X)

Allspring Global Investments Holdings LLC boosted its stake in United States Steel Co. (NYSE:X – Get Rating) by 18.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,001 shares of the basic materials company’s stock after acquiring an additional 3,199 shares during the period. Allspring Global Investments Holdings LLC’s holdings in United States Steel were worth $380,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in X. Balentine LLC purchased a new position in United States Steel in the 3rd quarter worth about $242,000. Wipfli Financial Advisors LLC bought a new position in United States Steel in the 3rd quarter worth approximately $58,000. Thompson Siegel & Walmsley LLC boosted its stake in United States Steel by 6.6% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,618,678 shares of the basic materials company’s stock worth $47,450,000 after purchasing an additional 162,634 shares during the period. Accuvest Global Advisors bought a new position in United States Steel in the 3rd quarter worth approximately $239,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of United States Steel during the 3rd quarter worth approximately $1,143,000. Hedge funds and other institutional investors own 75.02% of the company’s stock.

United States Steel Trading Down 1.0 %

Shares of NYSE:X opened at $27.93 on Wednesday. United States Steel Co. has a 52-week low of $16.41 and a 52-week high of $39.25. The stock has a market cap of $6.54 billion, a price-to-earnings ratio of 2.32 and a beta of 2.14. The company has a quick ratio of 1.37, a current ratio of 2.03 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $26.12 and a 200-day moving average price of $23.03.

United States Steel (NYSE:X – Get Rating) last announced its quarterly earnings data on Thursday, October 27th. The basic materials company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.03. United States Steel had a return on equity of 35.74% and a net margin of 15.30%. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same period last year, the business posted $5.36 earnings per share. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. Equities analysts predict that United States Steel Co. will post 9.39 EPS for the current year.

United States Steel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 8th. Investors of record on Monday, November 7th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Friday, November 4th. United States Steel’s dividend payout ratio is currently 1.66%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on X. StockNews.com assumed coverage on United States Steel in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Bank of America initiated coverage on United States Steel in a research report on Wednesday, January 4th. They set an “underperform” rating on the stock. The Goldman Sachs Group dropped their price objective on United States Steel from $21.00 to $18.00 and set a “sell” rating on the stock in a research report on Thursday, October 6th. Finally, Morgan Stanley increased their price target on United States Steel from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, December 19th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, United States Steel currently has an average rating of “Hold” and an average price target of $25.14.

About United States Steel

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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.