StockNews.com began coverage on shares of United States Steel (NYSE:X – Free Report) in a research note issued to investors on Friday. The firm issued a hold rating on the basic materials company’s stock.
X has been the topic of a number of other reports. Argus lowered United States Steel from a buy rating to a hold rating in a research report on Friday, November 3rd. JPMorgan Chase & Co. initiated coverage on United States Steel in a report on Friday, January 12th. They issued a neutral rating and a $52.00 price objective for the company. Barclays lowered their price objective on United States Steel from $32.00 to $31.00 and set an equal weight rating for the company in a report on Wednesday, November 1st. Finally, Royal Bank of Canada lowered their price objective on United States Steel from $34.00 to $33.00 and set a sector perform rating for the company in a report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $31.56.
United States Steel Price Performance
United States Steel (NYSE:X – Get Free Report) last issued its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.46. The company had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $3.73 billion. United States Steel had a return on equity of 10.80% and a net margin of 4.96%. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 earnings per share. As a group, research analysts anticipate that United States Steel will post 2.92 earnings per share for the current year.
United States Steel Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 13th. Investors of record on Monday, February 12th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Friday, February 9th. United States Steel’s dividend payout ratio is presently 5.70%.
Insider Buying and Selling
In related news, SVP Daniel R. Brown sold 5,000 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $35.00, for a total value of $175,000.00. Following the completion of the sale, the senior vice president now owns 91,968 shares in the company, valued at $3,218,880. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO David B. Burritt sold 252,458 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Daniel R. Brown sold 5,000 shares of the business’s 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 completion of the transaction, the senior vice president now owns 91,968 shares of the company’s stock, valued at approximately $3,218,880. The disclosure for this sale can be found here. Over the last three months, insiders sold 262,458 shares of company stock worth $13,049,275. Corporate insiders own 0.98% of the company’s stock.
Hedge Funds Weigh In On United States Steel
Several institutional investors and hedge funds have recently made changes to their positions in the company. BTG Pactual Global Asset Management Ltd acquired a new position in United States Steel in the 4th quarter worth $2,281,000. Banco BTG Pactual S.A. bought a new stake in United States Steel during the 4th quarter worth about $2,044,000. Cloverfields Capital Group LP bought a new stake in United States Steel during the 4th quarter worth about $1,409,000. Bank of Nova Scotia bought a new stake in United States Steel during the 4th quarter worth about $53,338,000. Finally, Harvest Investment Services LLC bought a new stake in shares of United States Steel in the 4th quarter valued at about $445,000. Institutional investors and hedge funds 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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