AE Wealth Management LLC increased its holdings in shares of United States Steel Co. (NYSE:X – Free Report) by 32.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 23,305 shares of the basic materials company’s stock after acquiring an additional 5,741 shares during the period. AE Wealth Management LLC’s holdings in United States Steel were worth $583,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Captrust Financial Advisors increased its holdings in United States Steel by 1.5% during the 2nd quarter. Captrust Financial Advisors now owns 35,254 shares of the basic materials company’s stock worth $631,000 after purchasing an additional 514 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in United States Steel by 24.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,015 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 592 shares during the period. Harbour Investments Inc. increased its holdings in United States Steel by 4.5% during the 4th quarter. Harbour Investments Inc. now owns 18,294 shares of the basic materials company’s stock worth $458,000 after purchasing an additional 793 shares during the period. Global Retirement Partners LLC increased its holdings in United States Steel by 37.0% during the 1st quarter. Global Retirement Partners LLC now owns 2,946 shares of the basic materials company’s stock worth $64,000 after purchasing an additional 795 shares during the period. Finally, Belpointe Asset Management LLC increased its holdings in United States Steel by 71.7% during the 1st quarter. Belpointe Asset Management LLC now owns 1,962 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 819 shares during the period. 74.60% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
X has been the topic of several research reports. JPMorgan Chase & Co. reduced their price objective on United States Steel from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Friday, July 14th. Citigroup lifted their price target on United States Steel from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Monday. Morgan Stanley reiterated an “equal weight” rating and issued a $25.00 price target on shares of United States Steel in a report on Tuesday, August 1st. BMO Capital Markets cut their price target on United States Steel from $27.00 to $26.00 in a report on Monday, July 31st. Finally, StockNews.com assumed coverage on United States Steel in a report on Tuesday. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.25.
United States Steel Stock Up 0.5 %
United States Steel stock opened at $32.25 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.92 and a quick ratio of 1.30. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 6.19 and a beta of 2.14. United States Steel Co. has a 1-year low of $18.01 and a 1-year high of $32.52. The business has a fifty day moving average price of $28.78 and a 200-day moving average price of $25.55.
United States Steel (NYSE:X – Get Free Report) last posted its quarterly earnings data on Friday, July 28th. The basic materials company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.06. United States Steel had a return on equity of 13.51% and a net margin of 7.05%. The firm had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $5.11 billion. During the same quarter last year, the firm earned $3.86 EPS. The business’s quarterly revenue was down 20.4% on a year-over-year basis. Equities research analysts forecast that United States Steel Co. will post 4.08 EPS for the current fiscal year.
United States Steel Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Monday, August 7th were given a dividend of $0.05 per share. The ex-dividend date was Friday, August 4th. This represents a $0.20 dividend on an annualized basis and a yield of 0.62%. United States Steel’s dividend payout ratio is currently 3.85%.
Insiders Place Their Bets
In other news, SVP Duane D. Holloway sold 23,406 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $31.00, for a total value of $725,586.00. Following the completion of the transaction, the senior vice president now owns 105,800 shares of the company’s stock, valued at approximately $3,279,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Duane D. Holloway sold 23,406 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $31.00, for a total value of $725,586.00. Following the completion of the transaction, the senior vice president now owns 105,800 shares of the company’s stock, valued at approximately $3,279,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP James E. Bruno sold 58,812 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $32.00, for a total value of $1,881,984.00. Following the completion of the transaction, the vice president now directly owns 56,548 shares of the company’s stock, valued at approximately $1,809,536. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,944 shares of company stock valued at $3,217,822. 0.98% of the stock is owned by company insiders.
United States Steel Profile
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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