New Mexico Educational Retirement Board acquired a new position in United States Steel Co. (NYSE:X) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 43,200 shares of the basic materials company’s stock, valued at approximately $1,520,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of United States Steel during the fourth quarter valued at approximately $453,000. Capital Innovations LLC purchased a new stake in shares of United States Steel during the fourth quarter valued at approximately $1,109,000. RWC Asset Management LLP grew its holdings in shares of United States Steel by 11.2% during the fourth quarter. RWC Asset Management LLP now owns 439,958 shares of the basic materials company’s stock valued at $15,482,000 after buying an additional 44,176 shares during the last quarter. KBC Group NV grew its holdings in shares of United States Steel by 24.7% during the fourth quarter. KBC Group NV now owns 203,653 shares of the basic materials company’s stock valued at $7,167,000 after buying an additional 40,349 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of United States Steel by 2.0% during the fourth quarter. Swiss National Bank now owns 298,000 shares of the basic materials company’s stock valued at $10,487,000 after buying an additional 5,900 shares during the last quarter. Institutional investors and hedge funds own 66.01% of the company’s stock.
United States Steel Co. (NYSE:X) opened at $44.75 on Tuesday. The firm has a market cap of $7,830.00, a P/E ratio of 20.53, a P/E/G ratio of 1.41 and a beta of 3.08. United States Steel Co. has a 52-week low of $18.55 and a 52-week high of $45.44. The company has a current ratio of 1.75, a quick ratio of 1.11 and a debt-to-equity ratio of 0.81.
United States Steel (NYSE:X) last issued its quarterly earnings data on Wednesday, January 31st. The basic materials company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.09. The company had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.10 billion. United States Steel had a net margin of 3.16% and a return on equity of 12.56%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 earnings per share. equities analysts expect that United States Steel Co. will post 3.98 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 9th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.45%. United States Steel’s dividend payout ratio (DPR) is 9.17%.
In other United States Steel news, CEO David B. Burritt sold 6,936 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $39.95, for a total value of $277,093.20. Following the transaction, the chief executive officer now directly owns 179,567 shares in the company, valued at $7,173,701.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Colleen M. Darragh sold 9,700 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $30.00, for a total transaction of $291,000.00. Following the completion of the transaction, the vice president now owns 19,136 shares in the company, valued at $574,080. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,706 shares of company stock worth $4,653,456. 1.00% of the stock is owned by insiders.
A number of research firms have recently commented on X. BMO Capital Markets increased their price target on shares of United States Steel from $29.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, November 2nd. Cowen upgraded shares of United States Steel from an “underperform” rating to a “market perform” rating and increased their price target for the company from $20.00 to $28.00 in a report on Thursday, November 2nd. ValuEngine cut shares of United States Steel from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Bank of America set a $46.00 price target on shares of United States Steel and gave the company a “buy” rating in a report on Monday, January 8th. Finally, Longbow Research upgraded shares of United States Steel from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $32.47.
United States Steel Profile
United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).
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