United States Steel Co. (X) Position Decreased by Sippican Capital Advisors

Sippican Capital Advisors decreased its stake in United States Steel Co. (NYSE:X) by 54.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 17,230 shares of the basic materials company’s stock after selling 20,301 shares during the period. Sippican Capital Advisors’ holdings in United States Steel were worth $314,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in X. Exane Derivatives boosted its position in United States Steel by 364,000.0% during the 3rd quarter. Exane Derivatives now owns 3,641 shares of the basic materials company’s stock worth $112,000 after acquiring an additional 3,640 shares during the period. Trustcore Financial Services LLC acquired a new stake in United States Steel during the 3rd quarter worth about $128,000. Truvestments Capital LLC acquired a new stake in United States Steel during the 3rd quarter worth about $143,000. Point72 Hong Kong Ltd acquired a new stake in United States Steel during the 3rd quarter worth about $156,000. Finally, Macquarie Group Ltd. boosted its position in United States Steel by 252.8% during the 3rd quarter. Macquarie Group Ltd. now owns 6,350 shares of the basic materials company’s stock worth $194,000 after acquiring an additional 4,550 shares during the period. Institutional investors and hedge funds own 63.20% of the company’s stock.

Shares of X stock traded up $0.60 during trading on Wednesday, reaching $20.79. The company had a trading volume of 107,814 shares, compared to its average volume of 7,700,103. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 1.62. United States Steel Co. has a one year low of $17.08 and a one year high of $47.64. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 0.58 and a beta of 2.77.

United States Steel (NYSE:X) last issued its quarterly earnings data on Friday, November 2nd. The basic materials company reported $1.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.06. United States Steel had a return on equity of 21.69% and a net margin of 5.01%. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the business earned $0.92 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. On average, analysts forecast that United States Steel Co. will post 5.39 EPS for the current fiscal year.

United States Steel declared that its Board of Directors has approved a stock buyback program on Thursday, November 1st that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

X has been the subject of a number of research reports. TD Securities restated an “average” rating on shares of United States Steel in a research report on Monday, November 12th. Citigroup cut their price target on United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, November 6th. Seaport Global Securities initiated coverage on United States Steel in a research note on Thursday, October 11th. They set a “buy” rating and a $35.00 price target for the company. Longbow Research cut their price target on United States Steel from $49.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, November 27th. Finally, TheStreet downgraded United States Steel from a “b-” rating to a “c+” rating in a research note on Tuesday, January 8th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $37.67.

In other United States Steel news, VP James E. Bruno sold 12,000 shares of United States Steel stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $25.75, for a total value of $309,000.00. Following the transaction, the vice president now directly owns 54,137 shares of the company’s stock, valued at approximately $1,394,027.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kevin Bradley purchased 10,000 shares of the company’s stock in a transaction on Wednesday, November 7th. The stock was acquired at an average cost of $29.53 per share, for a total transaction of $295,300.00. Following the completion of the transaction, the chief financial officer now owns 102,785 shares in the company, valued at $3,035,241.05. The disclosure for this purchase can be found here. 1.01% of the stock is currently owned by company insiders.

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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 three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.

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

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