Chicago Equity Partners LLC trimmed its position in U.S. Steel (NYSE:X) by 17.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 223,450 shares of the basic materials company’s stock after selling 47,285 shares during the period. Chicago Equity Partners LLC owned about 0.13% of U.S. Steel worth $7,863,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Banco de Sabadell S.A purchased a new stake in shares of U.S. Steel during the 4th quarter valued at approximately $100,000. We Are One Seven LLC purchased a new stake in shares of U.S. Steel during the 4th quarter valued at approximately $132,000. CoreCommodity Management LLC purchased a new stake in shares of U.S. Steel during the 4th quarter valued at approximately $152,000. US Bancorp DE raised its position in shares of U.S. Steel by 81.2% during the 4th quarter. US Bancorp DE now owns 4,563 shares of the basic materials company’s stock valued at $160,000 after buying an additional 2,045 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of U.S. Steel during the 1st quarter valued at approximately $183,000. Institutional investors own 66.74% of the company’s stock.
U.S. Steel opened at $37.54 on Friday, MarketBeat Ratings reports. U.S. Steel has a twelve month low of $36.10 and a twelve month high of $37.35. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.02 and a current ratio of 1.63. The firm has a market cap of $6.63 billion, a PE ratio of 19.35, a P/E/G ratio of 0.89 and a beta of 3.01.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 10th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. U.S. Steel’s payout ratio is currently 10.31%.
In other news, CFO Kevin Bradley bought 10,000 shares of the stock in a transaction that occurred on Tuesday, May 1st. The stock was purchased at an average price of $32.42 per share, for a total transaction of $324,200.00. Following the completion of the purchase, the chief financial officer now owns 93,496 shares in the company, valued at approximately $3,031,140.32. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Pipasu H. Soni sold 3,670 shares of the business’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $38.41, for a total transaction of $140,964.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,847 shares of company stock valued at $1,084,057. Insiders own 1.01% of the company’s stock.
A number of analysts have issued reports on the company. BMO Capital Markets boosted their target price on U.S. Steel to $40.00 and gave the company a “market perform” rating in a research report on Friday, February 2nd. Morgan Stanley cut their target price on U.S. Steel from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. Zacks Investment Research raised U.S. Steel from a “hold” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a research report on Saturday, April 14th. Credit Suisse Group boosted their target price on U.S. Steel from $34.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Finally, Goldman Sachs assumed coverage on U.S. Steel in a research report on Tuesday, March 20th. They issued a “neutral” rating and a $45.00 target price on the stock. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $40.36.
About U.S. Steel
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.
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