New York State Teachers Retirement System trimmed its holdings in shares of United States Steel Co. (NYSE:X – Get Rating ) by 7.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 312,237 shares of the basic materials company’s stock after selling 26,558 shares during the period. New York State Teachers Retirement System owned 0.13% of United States Steel worth $5,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently bought and sold shares of X. Fractal Investments LLC bought a new stake in shares of United States Steel in the 3rd quarter worth about $665,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of United States Steel by 18.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 21,001 shares of the basic materials company’s stock valued at $380,000 after buying an additional 3,199 shares during the last quarter. Ballentine LLC purchased a new stake in shares of United States Steel in the 3rd quarter valued at about $242,000. Wipfli Financial Advisors LLC purchased a new stake in shares of United States Steel in the 3rd quarter valued at about $58,000. Finally, Thompson Siegel & Walmsley LLC raised its holdings in shares of United States Steel by 6.6% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,618,678 shares of the basic materials company’s stock valued at $47,450,000 after purchasing an additional 162,634 shares during the last quarter. 75.02% of the stock is owned by hedge funds and other institutional investors.
Wall Street analysts weigh in
Several analysts have commented on X shares. Goldman Sachs Group reduced their price objective on United States Steel from $21.00 to $18.00 and set a “sell” rating for the company in a research note on Thursday, October 6th. StockNews.com initiated coverage on United States Steel in a research note on Wednesday, October 12th. They set a “Hold” rating for the company. Bank of America initiated coverage on United States Steel in a research note on Wednesday, January 4th. They set an “underperform” rating for the company. Finally, Morgan Stanley boosted their price objective on United States Steel from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, December 19th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, United States Steel currently has an average rating of “Hold” and an average price target of $25.14.
United States Steel Stock Performance
NYSE X opened at $28.35 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.37, and a debt-to-equity ratio of 0.37. The business has a 50-day moving average of $25.37 and a two-hundred-day moving average of $22.49. United States Steel Co. has a 12-month low of $16.41 and a 12-month high of $39.25. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 2.35 and a beta of 2.14.
United States Steel (NYSE:X – Get Rating ) last issued its earnings results on Thursday, October 27th. The basic materials company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.03. United States Steel had a return on equity of 35.74% and a net margin of 15.30%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the prior year, the firm posted $5.36 EPS. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. research analysts expect that United States Steel Co. will post 9.39 EPS for the current year.
United States Steel Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, December 8th. Investors of record on Monday, November 7th were given a $0.05 dividend. This represents a $0.20 dividend annually and a dividend yield of 0.71%. The ex-dividend date was Friday, November 4. United States Steel’s dividend payout ratio is currently 1.66%.
United States Steel Profile
(get rating)
United States Steel Corporation manufactures and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through four divisions: North American Flat-Rolled (Flat-Rolled), Mini Mill, US 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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