Price T Rowe Associates Inc. MD increased its stake in United States Steel Co. (NYSE:X) by 6.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,294 shares of the basic materials company’s stock after buying an additional 7,435 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in United States Steel were worth $1,888,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of X. First Trust Advisors LP lifted its position in United States Steel by 34.3% in the first quarter. First Trust Advisors LP now owns 422,120 shares of the basic materials company’s stock worth $8,227,000 after buying an additional 107,765 shares during the last quarter. BlackRock Inc. lifted its position in shares of United States Steel by 5.4% during the first quarter. BlackRock Inc. now owns 16,577,232 shares of the basic materials company’s stock worth $323,090,000 after purchasing an additional 846,135 shares during the last quarter. Xact Kapitalforvaltning AB bought a new stake in shares of United States Steel during the first quarter worth $419,000. Private Advisor Group LLC lifted its position in shares of United States Steel by 348.3% during the first quarter. Private Advisor Group LLC now owns 71,906 shares of the basic materials company’s stock worth $1,402,000 after purchasing an additional 55,868 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of United States Steel during the first quarter worth $15,786,000. Institutional investors own 60.75% of the company’s stock.
Several analysts have recently weighed in on the company. Barclays assumed coverage on United States Steel in a research report on Friday, September 6th. They set an “overweight” rating for the company. Macquarie downgraded United States Steel from an “outperform” rating to an “underperform” rating and decreased their target price for the stock from $18.00 to $9.00 in a research report on Thursday, September 19th. Credit Suisse Group decreased their target price on United States Steel from $9.00 to $8.00 and set an “underperform” rating for the company in a research report on Thursday, September 19th. Vertical Group upgraded United States Steel from a “sell” rating to a “buy” rating in a research report on Wednesday, June 19th. Finally, JPMorgan Chase & Co. downgraded United States Steel from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $26.00 to $14.00 in a research report on Monday, September 23rd. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.70.
Shares of United States Steel stock opened at $10.14 on Friday. The firm has a market cap of $1.86 billion, a P/E ratio of 1.89, a P/E/G ratio of 14.37 and a beta of 3.04. The company has a current ratio of 1.41, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. United States Steel Co. has a 12 month low of $9.93 and a 12 month high of $29.84. The stock’s fifty day moving average price is $11.41 and its 200-day moving average price is $14.13.
United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.40 by $0.05. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.43 billion. United States Steel had a return on equity of 19.27% and a net margin of 6.95%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 earnings per share. Analysts forecast that United States Steel Co. will post 0.1 earnings per share for the current year.
United States Steel Company Profile
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: North American Flat-Rolled (Flat-Rolled), 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 all iron ore and coke.
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