Moors & Cabot Inc. raised its stake in shares of United States Steel Co. (NYSE:X – Free Report) by 18.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,608 shares of the basic materials company’s stock after acquiring an additional 1,485 shares during the period. Moors & Cabot Inc.’s holdings in United States Steel were worth $240,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. ICA Group Wealth Management LLC purchased a new position in shares of United States Steel in the fourth quarter valued at approximately $28,000. GPS Wealth Strategies Group LLC acquired a new position in shares of United States Steel in the 2nd quarter valued at $35,000. National Bank of Canada FI increased its holdings in shares of United States Steel by 171.1% in the 2nd quarter. National Bank of Canada FI now owns 1,803 shares of the basic materials company’s stock valued at $45,000 after acquiring an additional 1,138 shares during the period. Dark Forest Capital Management LP purchased a new position in United States Steel in the 1st quarter valued at about $48,000. Finally, Belpointe Asset Management LLC lifted its holdings in United States Steel by 71.7% in the 1st quarter. Belpointe Asset Management LLC now owns 1,962 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 819 shares in the last quarter. 74.60% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
X has been the subject of a number of research analyst reports. Barclays dropped their price objective on shares of United States Steel from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 1st. BMO Capital Markets dropped their target price on shares of United States Steel from $27.00 to $26.00 in a research report on Monday, July 31st. Morgan Stanley raised shares of United States Steel from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $25.00 to $40.00 in a research report on Monday, October 2nd. Argus downgraded shares of United States Steel from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, Royal Bank of Canada lowered their price objective on shares of United States Steel from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, United States Steel has an average rating of “Hold” and a consensus target price of $28.10.
United States Steel Stock Performance
X stock opened at $34.11 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.34 and a current ratio of 1.95. The stock has a market capitalization of $7.61 billion, a price-to-earnings ratio of 7.50 and a beta of 2.09. United States Steel Co. has a 1 year low of $20.40 and a 1 year high of $35.76. The stock’s fifty day moving average is $32.85 and its two-hundred day moving average is $27.80.
United States Steel (NYSE:X – Get Free Report) last released its earnings results on Thursday, October 26th. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.25. The firm had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.39 billion. United States Steel had a return on equity of 11.67% and a net margin of 6.30%. On average, research analysts predict that United States Steel Co. will post 4.08 EPS for the current year.
United States Steel Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Monday, November 6th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.59%. United States Steel’s dividend payout ratio (DPR) is 4.40%.
Insider Activity at United States Steel
In related news, SVP Daniel R. Brown sold 4,860 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $33.00, for a total value of $160,380.00. Following the completion of the transaction, the senior vice president now owns 96,968 shares in the company, valued at approximately $3,199,944. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other United States Steel news, SVP Daniel R. Brown sold 4,860 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $33.00, for a total transaction of $160,380.00. Following the completion of the sale, the senior vice president now directly owns 96,968 shares in the company, valued at approximately $3,199,944. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kenneth E. Jaycox sold 10,756 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $30.75, for a total value of $330,747.00. Following the sale, the senior vice president now owns 85,480 shares of the company’s stock, valued at $2,628,510. The disclosure for this sale can be found here. Insiders sold 24,586 shares of company stock worth $770,632 in the last quarter. 0.98% of the stock is owned by company insiders.
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 four segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, 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 iron ore and coke.
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