Sigma Planning Corp Sells 3,762 Shares of United States Steel Co. (NYSE:X)

Sigma Planning Corp reduced its stake in United States Steel Co. (NYSE:XGet Rating) by 8.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,391 shares of the basic materials company’s stock after selling 3,762 shares during the quarter. Sigma Planning Corp’s holdings in United States Steel were worth $688,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of X. Arizona State Retirement System lifted its holdings in shares of United States Steel by 0.5% during the first quarter. Arizona State Retirement System now owns 73,048 shares of the basic materials company’s stock worth $2,757,000 after buying an additional 344 shares in the last quarter. EPG Wealth Management LLC raised its stake in United States Steel by 2.9% in the 1st quarter. EPG Wealth Management LLC now owns 14,252 shares of the basic materials company’s stock worth $538,000 after purchasing an additional 408 shares in the last quarter. Versor Investments LP boosted its holdings in United States Steel by 1.8% in the 1st quarter. Versor Investments LP now owns 24,000 shares of the basic materials company’s stock valued at $906,000 after purchasing an additional 421 shares during the period. US Bancorp DE grew its position in shares of United States Steel by 6.0% during the 2nd quarter. US Bancorp DE now owns 8,678 shares of the basic materials company’s stock worth $155,000 after purchasing an additional 493 shares in the last quarter. Finally, Journey Strategic Wealth LLC increased its holdings in shares of United States Steel by 4.5% during the first quarter. Journey Strategic Wealth LLC now owns 11,395 shares of the basic materials company’s stock worth $430,000 after purchasing an additional 495 shares during the period. 79.08% of the stock is currently owned by institutional investors and hedge funds.

United States Steel Stock Performance

Shares of X opened at $25.85 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 1.37 and a debt-to-equity ratio of 0.37. The firm’s fifty day simple moving average is $20.70 and its two-hundred day simple moving average is $21.72. United States Steel Co. has a 12 month low of $16.41 and a 12 month high of $39.25. The stock has a market capitalization of $6.06 billion, a P/E ratio of 2.15 and a beta of 2.14.

United States Steel (NYSE:XGet Rating) last issued its quarterly earnings results on Friday, October 28th. The basic materials company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.02. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.99 billion. United States Steel had a return on equity of 35.74% and a net margin of 15.30%. The company’s revenue was down 12.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.36 earnings per share. As a group, analysts predict that United States Steel Co. will post 9.29 EPS for the current year.

United States Steel announced that its Board of Directors has approved a share buyback plan on Thursday, July 28th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the basic materials company to reacquire up to 8.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

United States Steel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Monday, November 7th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, November 4th. United States Steel’s dividend payout ratio (DPR) is currently 1.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on X shares. Morgan Stanley dropped their target price on shares of United States Steel from $21.50 to $19.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 2nd. Citigroup raised their price objective on United States Steel to $27.00 in a research note on Tuesday, September 13th. The Goldman Sachs Group lowered their target price on United States Steel from $21.00 to $18.00 and set a “sell” rating for the company in a research note on Thursday, October 6th. Credit Suisse Group reduced their price target on shares of United States Steel from $44.00 to $37.00 and set an “outperform” rating on the stock in a research note on Friday, September 16th. Finally, StockNews.com started coverage on shares of United States Steel in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.88.

United States Steel Company Profile

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

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