United States Steel Co. (NYSE:X) Director Stephen J. Girsky purchased 1,000 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were purchased at an average cost of $14.50 per share, for a total transaction of $14,500.00. Following the completion of the acquisition, the director now directly owns 38,965 shares of the company’s stock, valued at approximately $564,992.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
NYSE:X traded down $0.07 during trading hours on Friday, reaching $13.63. 8,596,850 shares of the company were exchanged, compared to its average volume of 11,014,375. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 1.47. The stock has a market capitalization of $2.35 billion, a PE ratio of 2.54, a P/E/G ratio of 1.16 and a beta of 2.69. United States Steel Co. has a twelve month low of $13.31 and a twelve month high of $39.23.
United States Steel (NYSE:X) last issued its earnings results on Thursday, May 2nd. The basic materials company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.30. The business had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.37 billion. United States Steel had a net margin of 7.92% and a return on equity of 24.72%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share. Research analysts forecast that United States Steel Co. will post 1.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 13th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, May 10th. United States Steel’s dividend payout ratio (DPR) is 3.73%.
X has been the subject of a number of research analyst reports. Morgan Stanley upgraded shares of United States Steel from an “underweight” rating to an “equal weight” rating and set a $22.00 price objective for the company in a research report on Monday, January 28th. Bank of America restated an “underperform” rating and set a $12.00 price objective (down from $18.00) on shares of United States Steel in a research report on Friday, May 3rd. Credit Suisse Group cut shares of United States Steel from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $21.00 to $13.00 in a research report on Tuesday, April 9th. UBS Group cut shares of United States Steel from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $22.00 to $10.00 in a research report on Wednesday, May 8th. Finally, Berenberg Bank upgraded shares of United States Steel from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Thursday, February 21st. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $22.61.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc increased its holdings in shares of United States Steel by 1.2% during the third quarter. Vanguard Group Inc now owns 16,224,060 shares of the basic materials company’s stock valued at $494,509,000 after purchasing an additional 194,618 shares during the period. Longer Investments Inc. acquired a new stake in United States Steel during the fourth quarter worth approximately $1,501,000. Bank of Montreal Can grew its position in United States Steel by 203.4% during the fourth quarter. Bank of Montreal Can now owns 38,680 shares of the basic materials company’s stock worth $706,000 after buying an additional 25,930 shares in the last quarter. NuWave Investment Management LLC grew its position in United States Steel by 8,528.3% during the fourth quarter. NuWave Investment Management LLC now owns 27,093 shares of the basic materials company’s stock worth $494,000 after buying an additional 26,779 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in United States Steel during the fourth quarter worth approximately $1,783,000. Institutional investors and hedge funds own 67.07% 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. 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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