Geode Capital Management LLC boosted its holdings in United States Steel Co. (NYSE:X) by 4.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,950,955 shares of the basic materials company’s stock after buying an additional 85,070 shares during the quarter. Geode Capital Management LLC owned approximately 1.15% of United States Steel worth $12,310,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Verus Capital Partners LLC purchased a new position in shares of United States Steel in the 4th quarter valued at $37,000. Global Retirement Partners LLC increased its stake in United States Steel by 40.0% in the 1st quarter. Global Retirement Partners LLC now owns 7,000 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 2,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of United States Steel by 21.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 8,787 shares of the basic materials company’s stock worth $55,000 after buying an additional 1,572 shares during the last quarter. National Asset Management Inc. acquired a new position in shares of United States Steel during the 1st quarter worth approximately $64,000. Finally, XTX Markets LLC acquired a new stake in shares of United States Steel during the first quarter valued at $79,000. 61.84% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the company. UBS Group lowered their price target on United States Steel from $7.00 to $4.00 and set a “sell” rating for the company in a research report on Thursday, May 14th. ValuEngine raised United States Steel from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. decreased their price objective on shares of United States Steel from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, April 17th. KeyCorp reiterated a “hold” rating on shares of United States Steel in a research report on Thursday, June 18th. Finally, BMO Capital Markets reduced their price target on United States Steel from $9.00 to $6.00 and set a “market perform” rating for the company in a research report on Monday, March 23rd. Eight equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $8.40.
United States Steel (NYSE:X) last posted its earnings results on Thursday, April 30th. The basic materials company reported ($0.73) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.80) by $0.07. United States Steel had a negative net margin of 8.92% and a negative return on equity of 4.63%. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. The firm’s quarterly revenue was down 21.5% compared to the same quarter last year. Equities analysts anticipate that United States Steel Co. will post -5 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, May 11th were given a $0.01 dividend. The ex-dividend date was Friday, May 8th. This represents a $0.04 annualized dividend and a yield of 0.55%. United States Steel’s payout ratio is 44.44%.
United States Steel Company 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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