Nuveen Asset Management LLC decreased its holdings in shares of United States Steel Co. (NYSE:X – Get Rating) by 27.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 654,636 shares of the basic materials company’s stock after selling 248,004 shares during the period. Nuveen Asset Management LLC owned about 0.28% of United States Steel worth $11,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Donald Smith & CO. Inc. purchased a new position in United States Steel in the 2nd quarter valued at $45,765,000. First Trust Advisors LP lifted its holdings 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 purchasing an additional 2,015,980 shares in the last quarter. AQR Capital Management LLC lifted its holdings in United States Steel by 163.2% in the 2nd quarter. AQR Capital Management LLC now owns 3,235,338 shares of the basic materials company’s stock valued at $56,942,000 after purchasing an additional 2,006,222 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in United States Steel by 13.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,771,233 shares of the basic materials company’s stock valued at $195,183,000 after purchasing an additional 1,284,547 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in United States Steel by 685.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,289,400 shares of the basic materials company’s stock valued at $23,093,000 after purchasing an additional 1,125,200 shares in the last quarter. Hedge funds and other institutional investors own 75.02% of the company’s stock.
Insider Activity at United States Steel
In other news, Director Andrea J. Ayers bought 1,000 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was bought at an average cost of $31.45 per share, with a total value of $31,450.00. Following the transaction, the director now directly owns 5,014 shares in the company, valued at approximately $157,690.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Andrea J. Ayers bought 1,000 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was bought at an average cost of $31.45 per share, with a total value of $31,450.00. Following the transaction, the director now directly owns 5,014 shares in the company, valued at approximately $157,690.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kenneth E. Jaycox sold 6,090 shares of United States Steel stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $30.00, for a total value of $182,700.00. Following the completion of the transaction, the senior vice president now directly owns 79,637 shares of the company’s stock, valued at $2,389,110. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of brokerages have weighed in on X. Morgan Stanley raised their price objective on United States Steel from $20.00 to $31.00 and gave the company an “equal weight” rating in a report on Wednesday, February 8th. Bank of America started coverage on United States Steel in a report on Wednesday, January 4th. They set an “underperform” rating on the stock. BMO Capital Markets lifted their price target on United States Steel from $25.00 to $33.00 and gave the stock a “market perform” rating in a report on Monday, February 6th. Finally, The Goldman Sachs Group lifted their price target on United States Steel from $23.00 to $26.00 and gave the stock a “sell” rating in a report on Monday, February 6th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, United States Steel has a consensus rating of “Hold” and a consensus price target of $29.29.
United States Steel Stock Up 2.2 %
Shares of X opened at $29.60 on Thursday. The firm has a market cap of $6.71 billion, a P/E ratio of 3.30 and a beta of 2.20. United States Steel Co. has a 12-month low of $16.41 and a 12-month high of $39.25. The company’s 50-day moving average price is $28.33 and its 200 day moving average price is $24.63. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.38.
United States Steel (NYSE:X – Get Rating) last issued its quarterly earnings data on Friday, February 3rd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.27. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.01 billion. United States Steel had a net margin of 11.98% and a return on equity of 26.75%. United States Steel’s revenue was down 22.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.64 EPS. On average, sell-side analysts forecast that United States Steel Co. will post 1.67 earnings per share for the current year.
United States Steel Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 14th. Investors of record on Monday, February 13th will be issued a $0.05 dividend. The ex-dividend date is Friday, February 10th. This represents a $0.20 annualized dividend and a yield of 0.68%. United States Steel’s dividend payout ratio (DPR) is currently 2.23%.
United States Steel Profile
United States Steel Corp. engages in the manufacturing and selling of steel products. It operates through the following business segments: Flat-Rolled Products, Mini Mill, U.S. Steel Europe, and Tubular Products. The Flat-Rolled Products segment includes managing steel plants and production facilities that manufacture steel slabs, rounds, strip mill plates, sheets, tin mill, iron ore, and coke.
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