State of New Jersey Common Pension Fund D lowered its position in shares of United States Steel Corporation (NYSE:X) by 52.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 805,000 shares of the basic materials company’s stock after selling 900,000 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.46% of United States Steel Corporation worth $20,656,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Global X Management Co. LLC increased its holdings in shares of United States Steel Corporation by 221.0% in the 2nd quarter. Global X Management Co. LLC now owns 5,473 shares of the basic materials company’s stock valued at $121,000 after purchasing an additional 3,768 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of United States Steel Corporation by 10.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,975 shares of the basic materials company’s stock worth $154,000 after purchasing an additional 674 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of United States Steel Corporation by 21.3% during the 2nd quarter. Sigma Planning Corp now owns 9,662 shares of the basic materials company’s stock worth $214,000 after purchasing an additional 1,696 shares during the last quarter. Advisor Group Inc. boosted its position in shares of United States Steel Corporation by 3.2% in the second quarter. Advisor Group Inc. now owns 9,834 shares of the basic materials company’s stock worth $218,000 after acquiring an additional 308 shares during the last quarter. Finally, Tocqueville Asset Management L.P. acquired a new stake in shares of United States Steel Corporation in the second quarter worth approximately $221,000. Institutional investors own 66.28% of the company’s stock.
X has been the topic of several research reports. Jefferies Group LLC restated a “buy” rating and issued a $32.00 price target on shares of United States Steel Corporation in a report on Thursday, August 31st. BidaskClub raised shares of United States Steel Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Bank of America Corporation upgraded shares of United States Steel Corporation from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $29.00 to $31.00 in a research report on Tuesday, September 5th. Cowen and Company restated a “hold” rating and issued a $24.00 target price on shares of United States Steel Corporation in a research note on Friday, September 1st. Finally, BMO Capital Markets raised their price target on United States Steel Corporation from $29.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, November 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. United States Steel Corporation currently has a consensus rating of “Hold” and an average price target of $29.34.
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Shares of United States Steel Corporation (NYSE X) traded up $0.16 during trading on Tuesday, hitting $27.62. The stock had a trading volume of 6,611,800 shares, compared to its average volume of 17,066,381. United States Steel Corporation has a 12-month low of $18.55 and a 12-month high of $41.83. The stock has a market capitalization of $4,660.00, a P/E ratio of 19.21 and a beta of 2.96. The company has a current ratio of 1.89, a quick ratio of 1.23 and a debt-to-equity ratio of 1.03.
United States Steel Corporation (NYSE:X) last posted its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.25. United States Steel Corporation had a return on equity of 10.27% and a net margin of 1.05%. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same period last year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. equities analysts expect that United States Steel Corporation will post 1.8 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be issued a $0.05 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.72%. United States Steel Corporation’s dividend payout ratio is currently 29.41%.
In other news, Director Murry Gerber acquired 4,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were acquired at an average cost of $26.89 per share, with a total value of $107,560.00. Following the transaction, the director now owns 168,457 shares in the company, valued at approximately $4,529,808.73. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevin Bradley purchased 36,762 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was bought at an average cost of $27.23 per share, for a total transaction of $1,001,029.26. Following the completion of the transaction, the chief financial officer now owns 30,415 shares in the company, valued at $828,200.45. The disclosure for this purchase can be found here. In the last quarter, insiders bought 64,597 shares of company stock worth $1,764,452. Company insiders own 1.00% of the company’s stock.
United States Steel Corporation Company Profile
United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).
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