Crossvault Capital Management LLC Has $2.93 Million Position in United States Steel Co. (X)

Crossvault Capital Management LLC boosted its stake in shares of United States Steel Co. (NYSE:X) by 3.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 84,435 shares of the basic materials company’s stock after buying an additional 2,550 shares during the quarter. United States Steel accounts for about 1.6% of Crossvault Capital Management LLC’s holdings, making the stock its 23rd largest position. Crossvault Capital Management LLC’s holdings in United States Steel were worth $2,934,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PointState Capital LP purchased a new position in shares of United States Steel in the first quarter valued at about $60,076,000. Pelham Capital Ltd. purchased a new position in shares of United States Steel in the second quarter valued at about $50,388,000. Mackay Shields LLC purchased a new position in shares of United States Steel in the first quarter valued at about $26,425,000. Allianz Asset Management GmbH lifted its position in shares of United States Steel by 261.9% in the first quarter. Allianz Asset Management GmbH now owns 907,501 shares of the basic materials company’s stock valued at $31,935,000 after acquiring an additional 656,726 shares in the last quarter. Finally, Rubric Capital Management LP bought a new stake in shares of United States Steel in the first quarter worth about $20,058,000. Institutional investors own 71.37% of the company’s stock.

In other United States Steel news, VP Sara A. Greenstein sold 3,607 shares of the business’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $37.50, for a total transaction of $135,262.50. Following the completion of the transaction, the vice president now owns 47,962 shares in the company, valued at $1,798,575. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.01% of the company’s stock.

Several brokerages have recently issued reports on X. Zacks Investment Research raised United States Steel from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Tuesday, July 17th. Citigroup lifted their target price on United States Steel from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, June 12th. ValuEngine cut United States Steel from a “buy” rating to a “hold” rating in a report on Friday, June 8th. UBS Group reduced their target price on United States Steel from $30.00 to $28.00 and set a “sell” rating on the stock in a report on Friday, May 11th. Finally, Cowen reduced their target price on United States Steel from $41.00 to $37.00 and set a “market perform” rating on the stock in a report on Monday, April 30th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $41.12.

United States Steel traded down $2.22, hitting $33.59, during trading hours on Thursday, according to MarketBeat. 426,533 shares of the company were exchanged, compared to its average volume of 6,482,690. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.63 and a quick ratio of 1.02. United States Steel Co. has a 52 week low of $22.38 and a 52 week high of $47.64. The stock has a market capitalization of $6.44 billion, a P/E ratio of 18.46, a PEG ratio of 0.82 and a beta of 3.17.

United States Steel (NYSE:X) last issued its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $1.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.33. United States Steel had a return on equity of 17.92% and a net margin of 4.62%. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the previous year, the firm posted $1.07 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. equities research analysts anticipate that United States Steel Co. will post 5.56 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Thursday, August 9th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.60%. United States Steel’s payout ratio is currently 10.31%.

United States Steel 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: 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.

Further Reading: Understanding Stock Ratings

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Institutional Ownership by Quarter for United States Steel (NYSE:X)

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