United States Steel Co. (NYSE:X) Shares Purchased by Van ECK Associates Corp

Posted by Defense World Staff on Jul 31st, 2023

Van ECK Associates Corp boosted its stake in shares of United States Steel Co. (NYSE:X – Free Report) by 40.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 267,268 shares of the basic materials company’s stock after buying an additional 76,514 shares during the quarter. Van ECK Associates Corp owned 0.12% of United States Steel worth $6,975,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of X. Two Sigma Advisers LP grew its position in United States Steel by 15.1% in the 4th quarter. Two Sigma Advisers LP now owns 4,479,700 shares of the basic materials company’s stock valued at $112,216,000 after acquiring an additional 589,200 shares in the last quarter. Donald Smith & CO. Inc. grew its position in United States Steel by 34.8% in the 4th quarter. Donald Smith & CO. Inc. now owns 3,561,945 shares of the basic materials company’s stock valued at $89,227,000 after acquiring an additional 920,120 shares in the last quarter. Geode Capital Management LLC grew its position in United States Steel by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 3,423,901 shares of the basic materials company’s stock valued at $87,172,000 after acquiring an additional 44,162 shares in the last quarter. First Trust Advisors LP grew its position in United States Steel by 155.8% in the 1st quarter. First Trust Advisors LP now owns 3,309,824 shares of the basic materials company’s stock valued at $124,913,000 after acquiring an additional 2,015,980 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in United States Steel by 22.9% in the 4th quarter. AQR Capital Management LLC now owns 2,896,658 shares of the basic materials company’s stock valued at $72,561,000 after acquiring an additional 539,880 shares in the last quarter. Hedge funds and other institutional investors own 72.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. BMO Capital Markets decreased their price objective on United States Steel from $30.00 to $27.00 in a research note on Monday, May 1st. JPMorgan Chase & Co. decreased their target price on United States Steel from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Friday, July 14th. StockNews.com began coverage on United States Steel in a research note on Thursday, May 18th. They set a “hold” rating for the company. Wolfe Research cut United States Steel from a “peer perform” rating to an “underperform” rating and set a $19.00 target price for the company. in a research note on Thursday, June 1st. Finally, BNP Paribas cut United States Steel from an “outperform” rating to a “neutral” rating and set a $26.00 target price for the company. in a research note on Wednesday, July 5th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.78.

United States Steel Trading Down 1.4 %

NYSE:X opened at $24.67 on Monday. The stock’s 50 day simple moving average is $23.56 and its 200-day simple moving average is $25.36. United States Steel Co. has a 12-month low of $17.89 and a 12-month high of $31.55. The firm has a market cap of $5.59 billion, a P/E ratio of 4.74 and a beta of 2.15. The company has a current ratio of 1.92, a quick ratio of 1.30 and a debt-to-equity ratio of 0.38.

United States Steel (NYSE:X – Get Free Report) last posted its earnings results on Friday, July 28th. The basic materials company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.06. The company had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $5.11 billion. United States Steel had a return on equity of 13.51% and a net margin of 7.05%. United States Steel’s quarterly revenue was down 20.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.86 earnings per share. Equities analysts anticipate that United States Steel Co. will post 4.29 EPS for the current year.

United States Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Monday, August 7th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, August 4th. This represents a $0.20 annualized dividend and a dividend yield of 0.81%. United States Steel’s dividend payout ratio is currently 3.85%.

United States Steel Company Profile

(Free Report)

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.