Sigma Planning Corp acquired a new stake in shares of United States Steel Co. (NYSE:X) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 11,041 shares of the basic materials company’s stock, valued at approximately $128,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. CWM LLC boosted its holdings in shares of United States Steel by 448.6% in the second quarter. CWM LLC now owns 11,016 shares of the basic materials company’s stock worth $169,000 after acquiring an additional 9,008 shares during the period. LSV Asset Management boosted its holdings in shares of United States Steel by 12.3% in the second quarter. LSV Asset Management now owns 861,031 shares of the basic materials company’s stock worth $13,182,000 after acquiring an additional 94,000 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of United States Steel by 4.5% in the second quarter. Commonwealth Equity Services LLC now owns 102,817 shares of the basic materials company’s stock worth $1,574,000 after acquiring an additional 4,396 shares during the period. Coastal Investment Advisors Inc. boosted its holdings in shares of United States Steel by 5,611.0% in the second quarter. Coastal Investment Advisors Inc. now owns 5,711 shares of the basic materials company’s stock worth $90,000 after acquiring an additional 5,611 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of United States Steel by 5.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,246,175 shares of the basic materials company’s stock worth $19,079,000 after acquiring an additional 69,839 shares during the period. 60.91% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on X. Macquarie lowered United States Steel from an “outperform” rating to an “underperform” rating and cut their price target for the stock from $18.00 to $9.00 in a report on Thursday, September 19th. ValuEngine raised United States Steel from a “buy” rating to a “strong-buy” rating in a report on Friday, November 8th. Credit Suisse Group cut their price target on United States Steel from $9.00 to $8.00 and set an “underperform” rating for the company in a report on Thursday, September 19th. Cfra lowered United States Steel from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st. Finally, Barclays assumed coverage on United States Steel in a research note on Friday, September 6th. They set an “overweight” rating for the company. Seven research analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $16.55.
United States Steel (NYSE:X) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported ($0.21) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.08. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.04 billion. United States Steel had a return on equity of 10.57% and a net margin of 4.56%. The firm’s quarterly revenue was down 17.7% on a year-over-year basis. During the same quarter last year, the company earned $1.79 earnings per share. On average, analysts expect that United States Steel Co. will post 0.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Tuesday, November 12th. United States Steel’s dividend payout ratio is 3.73%.
About United States 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: 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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