Several other research analysts have also commented on the company. Argus lowered United States Steel from a buy rating to a hold rating in a report on Friday, November 3rd. Royal Bank of Canada reduced their price target on United States Steel from $34.00 to $33.00 and set a sector perform rating on the stock in a report on Tuesday, October 31st. JPMorgan Chase & Co. assumed coverage on United States Steel in a report on Friday, January 12th. They set a neutral rating and a $52.00 price target on the stock. Finally, Barclays reduced their price target on United States Steel from $32.00 to $31.00 and set an equal weight rating on the stock in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $31.56.
United States Steel Stock Performance
United States Steel (NYSE:X – Get Free Report) last posted its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.46. The company had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.73 billion. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. United States Steel’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period last year, the firm posted $0.87 EPS. Sell-side analysts expect that United States Steel will post 2.92 EPS for the current year.
United States Steel Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 13th. Investors of record on Monday, February 12th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, February 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.44%. United States Steel’s payout ratio is currently 5.70%.
Insider Activity at United States Steel
In other United States Steel news, SVP Daniel R. Brown sold 5,000 shares of United States Steel stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $35.00, for a total transaction of $175,000.00. Following the sale, the senior vice president now directly owns 91,968 shares in the company, valued at approximately $3,218,880. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO David B. Burritt sold 252,458 shares of United States Steel stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $50.01, for a total value of $12,625,424.58. Following the completion of the transaction, the chief executive officer now owns 581,609 shares in the company, valued at approximately $29,086,266.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Daniel R. Brown sold 5,000 shares of the business’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $35.00, for a total value of $175,000.00. Following the sale, the senior vice president now directly owns 91,968 shares in the company, valued at $3,218,880. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 262,458 shares of company stock worth $13,049,275. 0.98% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. Bornite Capital Management LP lifted its position in shares of United States Steel by 300.0% during the 1st quarter. Bornite Capital Management LP now owns 400,000 shares of the basic materials company’s stock worth $15,096,000 after purchasing an additional 300,000 shares during the last quarter. Natixis Advisors L.P. bought a new stake in United States Steel during the 1st quarter worth approximately $455,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in United States Steel during the 1st quarter worth about $1,150,000. Great West Life Assurance Co. Can lifted its position in shares of United States Steel by 6.0% during the first quarter. Great West Life Assurance Co. Can now owns 151,647 shares of the basic materials company’s stock worth $5,891,000 after purchasing an additional 8,560 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in shares of United States Steel by 9.5% during the first quarter. Blair William & Co. IL now owns 60,133 shares of the basic materials company’s stock worth $2,269,000 after purchasing an additional 5,217 shares in the last quarter. Hedge funds and other institutional investors own 74.60% of the company’s stock.
About United States Steel
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. 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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