Fifth Third Bancorp Boosts Stake in United States Steel Corporation (NYSE:X)

Fifth Third Bancorp grew its stake in shares of United States Steel Corporation (NYSE:X) by 39.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,090 shares of the basic materials company’s stock after buying an additional 588 shares during the quarter. Fifth Third Bancorp’s holdings in United States Steel were worth $88,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in X. Rhumbline Advisers increased its holdings in shares of United States Steel by 0.5% in the fourth quarter. Rhumbline Advisers now owns 624,008 shares of the basic materials company’s stock worth $21,210,000 after buying an additional 3,019 shares during the period. Allworth Financial LP increased its stake in United States Steel by 149.4% in the 4th quarter. Allworth Financial LP now owns 1,337 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 801 shares during the period. CIBC Asset Management Inc increased its stake in United States Steel by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 6,880 shares of the basic materials company’s stock worth $234,000 after purchasing an additional 366 shares during the period. Global Retirement Partners LLC increased its stake in United States Steel by 126.2% in the 4th quarter. Global Retirement Partners LLC now owns 9,025 shares of the basic materials company’s stock worth $307,000 after purchasing an additional 5,035 shares during the period. Finally, Sigma Planning Corp increased its stake in United States Steel by 68.1% in the 4th quarter. Sigma Planning Corp now owns 24,639 shares of the basic materials company’s stock worth $837,000 after purchasing an additional 9,979 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

United States Steel Stock Performance

United States Steel stock opened at $54.97 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.45 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $12.45 billion, a P/E ratio of 189.56, a PEG ratio of 2.21 and a beta of 1.87. The stock’s 50 day moving average is $46.87 and its 200 day moving average is $40.64. United States Steel Corporation has a twelve month low of $26.92 and a twelve month high of $54.91.

United States Steel (NYSE:X) last released its earnings results on Thursday, May 1st. The basic materials company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.04). United States Steel had a return on equity of 1.69% and a net margin of 0.64%. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the prior year, the company posted $0.82 earnings per share. The company’s revenue was down 10.4% on a year-over-year basis. On average, equities research analysts predict that United States Steel Corporation will post 1.43 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Monday, May 12th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, May 12th. This represents a $0.20 annualized dividend and a yield of 0.36%. United States Steel’s dividend payout ratio is 68.97%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $55.00 target price (up from $50.00) on shares of United States Steel in a research note on Tuesday, May 27th. Wolfe Research restated a “peer perform” rating on shares of United States Steel in a research report on Tuesday, May 27th. JPMorgan Chase & Co. boosted their price target on United States Steel from $39.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, June 2nd. Glj Research downgraded United States Steel from a “strong-buy” rating to a “strong sell” rating in a report on Friday, May 30th. Finally, BMO Capital Markets restated a “market perform” rating and set a $45.00 price target on shares of United States Steel in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $43.80.

United States Steel Profile

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.