Raymond James & Associates lowered its stake in United States Steel Co. (NYSE:X – Free Report) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,700 shares of the basic materials company’s stock after selling 2,656 shares during the quarter. Raymond James & Associates’ holdings in United States Steel were worth $1,068,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in X. Bornite Capital Management LP boosted its position in shares of United States Steel by 300.0% during the first quarter. Bornite Capital Management LP now owns 400,000 shares of the basic materials company’s stock worth $15,096,000 after buying an additional 300,000 shares during the period. Natixis Advisors L.P. bought a new stake in United States Steel in the 1st quarter valued at approximately $455,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in United States Steel during the 1st quarter worth approximately $1,150,000. Great West Life Assurance Co. Can grew its stake in shares of United States Steel by 6.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 151,647 shares of the basic materials company’s stock worth $5,891,000 after acquiring an additional 8,560 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of United States Steel by 9.5% in the first quarter. Blair William & Co. IL now owns 60,133 shares of the basic materials company’s stock valued at $2,269,000 after purchasing an additional 5,217 shares during the last quarter. Institutional investors and hedge funds own 74.60% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Citigroup raised their target price on shares of United States Steel from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, September 25th. Argus cut United States Steel from a “buy” rating to a “hold” rating in a research note on Friday. Barclays lowered their target price on shares of United States Steel from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday. Royal Bank of Canada cut their price target on shares of United States Steel from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Tuesday. Finally, BMO Capital Markets lowered their price objective on shares of United States Steel from $27.00 to $26.00 in a research note on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.10.
United States Steel Stock Performance
NYSE:X opened at $34.25 on Friday. The stock has a 50 day simple moving average of $32.10 and a 200 day simple moving average of $26.96. The stock has a market cap of $7.64 billion, a P/E ratio of 7.53 and a beta of 2.09. United States Steel Co. has a 1-year low of $20.00 and a 1-year high of $34.49. The company has a current ratio of 1.95, a quick ratio of 1.34 and a debt-to-equity ratio of 0.37.
United States Steel Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Monday, November 6th will be given a $0.05 dividend. The ex-dividend date is Friday, November 3rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.58%. United States Steel’s payout ratio is presently 4.40%.
Insider Activity at United States Steel
In other news, SVP Daniel R. Brown sold 4,860 shares of United States Steel stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $33.00, for a total value 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 $3,199,944. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Daniel R. Brown sold 4,860 shares of the firm’s 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 transaction, the senior vice president now owns 96,968 shares in the company, valued at $3,199,944. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Duane D. Holloway sold 23,406 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $31.00, for a total transaction of $725,586.00. Following the sale, the senior vice president now directly owns 105,800 shares of the company’s stock, valued at approximately $3,279,800. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,804 shares of company stock worth $3,378,202. Corporate insiders own 0.98% of the company’s stock.
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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