United States Steel Corporation (NYSE:X) Shares Acquired by M&T Bank Corp

M&T Bank Corp boosted its holdings in United States Steel Corporation (NYSE:X) by 4.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,484 shares of the basic materials company’s stock after purchasing an additional 606 shares during the quarter. M&T Bank Corp’s holdings in United States Steel were worth $613,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. HM Payson & Co. raised its stake in shares of United States Steel by 57.2% during the first quarter. HM Payson & Co. now owns 706 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 257 shares in the last quarter. Bessemer Group Inc. raised its position in United States Steel by 37.3% in the first quarter. Bessemer Group Inc. now owns 975 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 265 shares in the last quarter. Versant Capital Management Inc raised its position in United States Steel by 45.3% in the first quarter. Versant Capital Management Inc now owns 911 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 284 shares in the last quarter. SummerHaven Investment Management LLC raised its position in United States Steel by 2.0% in the first quarter. SummerHaven Investment Management LLC now owns 20,028 shares of the basic materials company’s stock worth $846,000 after acquiring an additional 390 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in United States Steel by 0.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,730 shares of the basic materials company’s stock worth $1,690,000 after acquiring an additional 412 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

United States Steel Price Performance

Shares of X stock opened at $54.97 on Wednesday. The stock’s fifty day moving average is $51.21 and its 200-day moving average is $43.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.75 and a current ratio of 1.45. The stock has a market capitalization of $12.45 billion, a PE ratio of 189.56, a PEG ratio of 2.21 and a beta of 1.87. United States Steel Corporation has a 52 week low of $26.92 and a 52 week high of $54.91.

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

United States Steel Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have weighed in on X shares. Wolfe Research reaffirmed a “peer perform” rating on shares of United States Steel in a research note on Tuesday, May 27th. Jefferies Financial Group reaffirmed a “hold” rating and set a $55.00 target price (up previously from $50.00) on shares of United States Steel in a research note on Tuesday, May 27th. Glj Research cut United States Steel from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, May 30th. BMO Capital Markets reissued a “market perform” rating and issued a $45.00 price target on shares of United States Steel in a research note on Monday, March 31st. Finally, 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 research note on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $43.80.

United States Steel Company 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.