Balentine LLC bought a new position in shares of United States Steel Co. (NYSE:X – Get Rating) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,373 shares of the basic materials company’s stock, valued at approximately $242,000.
A number of other institutional investors have also added to or reduced their stakes in X. Wipfli Financial Advisors LLC bought a new position in shares of United States Steel in the third quarter valued at approximately $58,000. Thompson Siegel & Walmsley LLC raised its stake in shares of United States Steel by 6.6% in the third quarter. Thompson Siegel & Walmsley LLC now owns 2,618,678 shares of the basic materials company’s stock valued at $47,450,000 after acquiring an additional 162,634 shares during the last quarter. Accuvest Global Advisors bought a new position in shares of United States Steel in the third quarter valued at approximately $239,000. Louisiana State Employees Retirement System bought a new position in shares of United States Steel in the third quarter valued at approximately $1,143,000. Finally, Polianta Ltd raised its stake in shares of United States Steel by 17.1% in the third quarter. Polianta Ltd now owns 33,500 shares of the basic materials company’s stock valued at $607,000 after acquiring an additional 4,900 shares during the last quarter. 75.02% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
X has been the subject of several research analyst reports. Bank of America initiated coverage on shares of United States Steel in a research report on Wednesday, January 4th. They issued an “underperform” rating for the company. StockNews.com initiated coverage on shares of United States Steel in a report on Wednesday, October 12th. They set a “hold” rating for the company. Credit Suisse Group cut their target price on 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. Citigroup upped their price target on United States Steel to $27.00 in a research note on Tuesday, September 13th. Finally, Morgan Stanley lifted their price objective on shares of United States Steel from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, December 19th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $25.00.
United States Steel Stock Performance
United States Steel (NYSE:X – Get Rating) last released its quarterly earnings results on Thursday, October 27th. The basic materials company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.03. United States Steel had a return on equity of 35.74% and a net margin of 15.30%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the business posted $5.36 EPS. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. Equities analysts expect that United States Steel Co. will post 9.39 EPS for the current fiscal year.
United States Steel Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 8th. Stockholders of record on Monday, November 7th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Friday, November 4th. United States Steel’s payout ratio is 1.66%.
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.
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