Prospera Financial Services Inc bought a new position in shares of United States Steel Co. (NYSE:X – Get Rating) during the 1st quarter, Holdings Channel.com reports. The firm bought 4,500 shares of the basic materials company’s stock, valued at approximately $170,000.
Several other large investors have also recently added to or reduced their stakes in X. North Star Investment Management Corp. lifted its position in United States Steel by 2,000.0% during the fourth quarter. North Star Investment Management Corp. now owns 1,050 shares of the basic materials company’s stock worth $25,000 after buying an additional 1,000 shares during the period. Byrne Asset Management LLC purchased a new position in United States Steel during the fourth quarter worth about $26,000. Rational Advisors LLC purchased a new position in United States Steel during the fourth quarter worth about $27,000. Norwood Financial Corp purchased a new position in United States Steel during the fourth quarter worth about $36,000. Finally, Rocky Mountain Advisers LLC purchased a new position in United States Steel during the first quarter worth about $38,000. 72.56% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have commented on X. Credit Suisse Group dropped their price target on United States Steel from $49.00 to $44.00 and set an “outperform” rating for the company in a research note on Friday, June 17th. The Goldman Sachs Group dropped their price target on United States Steel from $36.00 to $22.00 and set a “sell” rating for the company in a research note on Tuesday, May 31st. UBS Group set a $23.00 price target on United States Steel in a research note on Monday, June 20th. Morgan Stanley upped their price target on United States Steel from $20.00 to $21.50 and gave the stock an “equal weight” rating in a research note on Monday. Finally, JPMorgan Chase & Co. dropped their price target on United States Steel from $34.00 to $28.00 and set an “underweight” rating for the company in a research note on Tuesday, June 14th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $29.05.
United States Steel Price Performance
United States Steel (NYSE:X – Get Rating) last posted its earnings results on Thursday, July 28th. The basic materials company reported $3.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.85 by $0.01. United States Steel had a return on equity of 49.21% and a net margin of 21.59%. The business had revenue of $6.29 billion during the quarter, compared to analyst estimates of $5.82 billion. During the same quarter last year, the firm earned $3.37 earnings per share. The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. On average, equities analysts predict that United States Steel Co. will post 10.44 earnings per share for the current fiscal year.
United States Steel Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Monday, August 8th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, August 5th. United States Steel’s dividend payout ratio is currently 1.17%.
United States Steel declared that its Board of Directors has approved a share repurchase plan on Thursday, July 28th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the basic materials company to reacquire up to 8.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
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 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.
- Get a free copy of the StockNews.com research report on United States Steel (X)
- 3 Hotel Stocks to Consider Checking into After Earnings
- How Does Freeport McMoran Inc Compare to Its Sector Competitors?
- Can FuelCell Energy Surge Higher This Year?
- Is It Time to Take a Ride on Cedar Fair Stock?
- Time To Take A Serious Look At Nikola Stock As Production Starts
Receive News & Ratings for United States Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United States Steel and related companies with MarketBeat.com's FREE daily email newsletter.