United States Steel Co. (NYSE:X – Get Rating) – Equities researchers at KeyCorp reduced their Q3 2022 EPS estimates for shares of United States Steel in a research note issued on Thursday, May 19th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will earn $3.00 per share for the quarter, down from their prior forecast of $3.07. KeyCorp also issued estimates for United States Steel’s FY2022 earnings at $10.20 EPS.
United States Steel (NYSE:X – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The basic materials company reported $3.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.05. The business had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.26 billion. United States Steel had a net margin of 23.01% and a return on equity of 54.02%. The firm’s revenue for the quarter was up 42.8% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS.
Shares of NYSE:X opened at $25.06 on Monday. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 1.45 and a beta of 2.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.90 and a quick ratio of 1.30. The firm has a 50 day simple moving average of $32.45 and a 200 day simple moving average of $27.28. United States Steel has a one year low of $17.98 and a one year high of $39.25.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 8th. Stockholders of record on Monday, May 9th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, May 6th. United States Steel’s dividend payout ratio is currently 1.16%.
In other news, CAO Manpreet Grewal sold 1,359 shares of United States Steel stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $37.71, for a total transaction of $51,247.89. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $1,104,299.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Scott D. Buckiso sold 10,300 shares of the business’s stock in a transaction dated Monday, March 21st. The stock was sold at an average price of $35.00, for a total transaction of $360,500.00. The disclosure for this sale can be found here. Insiders have sold 195,343 shares of company stock valued at $6,804,448 over the last quarter. Corporate insiders own 1.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP raised its position in shares of United States Steel by 318.4% in the third quarter. Wellington Management Group LLP now owns 255,379 shares of the basic materials company’s stock valued at $5,611,000 after purchasing an additional 194,346 shares during the period. Cannell & Co. purchased a new position in United States Steel in the 4th quarter worth approximately $633,000. Main Street Financial Solutions LLC grew its stake in United States Steel by 5.4% in the 4th quarter. Main Street Financial Solutions LLC now owns 9,739 shares of the basic materials company’s stock worth $232,000 after buying an additional 500 shares in the last quarter. Gendell Jeffrey L grew its stake in United States Steel by 271.0% in the 3rd quarter. Gendell Jeffrey L now owns 3,891,139 shares of the basic materials company’s stock worth $85,488,000 after buying an additional 2,842,420 shares in the last quarter. Finally, South Dakota Investment Council grew its stake in United States Steel by 23.6% in the 4th quarter. South Dakota Investment Council now owns 357,310 shares of the basic materials company’s stock worth $8,508,000 after buying an additional 68,220 shares in the last quarter. 72.56% of the stock is currently owned by institutional investors and hedge funds.
About United States Steel (Get Rating)
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through four segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, 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 iron ore and coke.
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