Retirement Systems of Alabama lowered its stake in United States Steel Co. (NYSE:X) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 221,952 shares of the basic materials company’s stock after selling 2,284 shares during the period. Retirement Systems of Alabama owned approximately 0.13% of United States Steel worth $2,564,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in X. Trustcore Financial Services LLC grew its holdings in United States Steel by 75.0% during the third quarter. Trustcore Financial Services LLC now owns 10,500 shares of the basic materials company’s stock worth $121,000 after acquiring an additional 4,500 shares during the period. FNY Investment Advisers LLC grew its holdings in United States Steel by 15.6% during the third quarter. FNY Investment Advisers LLC now owns 8,900 shares of the basic materials company’s stock worth $102,000 after acquiring an additional 1,198 shares during the period. Quadrant Capital Group LLC grew its holdings in United States Steel by 92.1% during the third quarter. Quadrant Capital Group LLC now owns 4,156 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 1,993 shares during the period. CWM LLC grew its holdings in United States Steel by 59.3% during the third quarter. CWM LLC now owns 17,545 shares of the basic materials company’s stock worth $203,000 after acquiring an additional 6,529 shares during the period. Finally, World Asset Management Inc grew its holdings in United States Steel by 15.2% during the third quarter. World Asset Management Inc now owns 14,843 shares of the basic materials company’s stock worth $171,000 after acquiring an additional 1,954 shares during the period. 60.12% of the stock is currently owned by institutional investors and hedge funds.
United States Steel stock opened at $13.57 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.69 and a current ratio of 1.42. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 2.53, a price-to-earnings-growth ratio of 29.77 and a beta of 3.04. United States Steel Co. has a fifty-two week low of $9.93 and a fifty-two week high of $28.28. The stock’s fifty day moving average is $11.50 and its two-hundred day moving average is $13.18.
United States Steel (NYSE:X) last posted its earnings results on Thursday, October 31st. The basic materials company reported ($0.21) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.08. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.04 billion. United States Steel had a return on equity of 10.57% and a net margin of 4.56%. United States Steel’s revenue was down 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.79 earnings per share. As a group, sell-side analysts forecast that United States Steel Co. will post 0.06 EPS for the current fiscal year.
The company also recently announced a dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 13th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. United States Steel’s dividend payout ratio (DPR) is 3.73%.
A number of research analysts recently weighed in on the company. Berenberg Bank lowered United States Steel from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Cfra lowered United States Steel from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st. JPMorgan Chase & Co. lowered United States Steel from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $26.00 to $14.00 in a report on Monday, September 23rd. Barclays assumed coverage on United States Steel in a report on Friday, September 6th. They set an “overweight” rating on the stock. Finally, Macquarie lowered United States Steel from an “outperform” rating to an “underperform” rating and dropped their price objective for the stock from $18.00 to $9.00 in a report on Thursday, September 19th. Seven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. United States Steel currently has a consensus rating of “Hold” and a consensus target price of $16.55.
United States Steel Profile
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: North American Flat-Rolled (Flat-Rolled), 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 all iron ore and coke.
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