Cambridge Investment Research Advisors Inc. lowered its position in United States Steel Co. (NYSE:X – Get Rating) by 5.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,838 shares of the basic materials company's stock after selling 4,718 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in United States Steel were worth $1,609,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of X. Byrne Asset Management LLC purchased a new stake in United States Steel in the fourth quarter valued at approximately $26,000. Catalyst Capital Advisors LLC acquired a new position in United States Steel in the first quarter valued at approximately $36,000. Rocky Mountain Advisers LLC acquired a new position in United States Steel in the first quarter valued at approximately $38,000. Fortitude Advisory Group L.L.C. acquired a new position in United States Steel in the first quarter valued at approximately $38,000. Finally, First Quadrant LLC CA acquired a new position in United States Steel in the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 79.08% of the company's stock.
Get United States Steel alerts:United States Steel Stock Down 2.3 %
Shares of X opened at $18.12 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.98. United States Steel Co. has a one year low of $16.41 and a one year high of $39.25. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 1.06 and a beta of 2.15. The stock has a 50 day moving average price of $22.34 and a 200 day moving average price of $25.31.
United States Steel (NYSE:X – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The basic materials company reported $3.86 EPS for the quarter, topping the consensus estimate of $3.85 by $0.01. United States Steel had a return on equity of 49.21% and a net margin of 21.59%. The firm had revenue of $6.29 billion during the quarter, compared to analysts' expectations of $5.82 billion. During the same period in the previous year, the business earned $3.37 earnings per share. The firm's revenue for the quarter was up 25.2% on a year-over-year basis. Equities research analysts forecast that United States Steel Co. will post 9.89 earnings per share for the current fiscal year.United States Steel Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Monday, August 8th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.10%. The ex-dividend date was Friday, August 5th. United States Steel's payout ratio is currently 1.17%.
United States Steel announced that its Board of Directors has initiated a stock buyback plan on Thursday, July 28th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the basic materials company to repurchase up to 8.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its shares are undervalued.
Analysts Set New Price Targets
A number of research analysts have issued reports on X shares. StockNews.com downgraded United States Steel from a "buy" rating to a "hold" rating in a report on Friday, July 29th. UBS Group set a $23.00 price target on United States Steel in a report on Monday, June 20th. Credit Suisse Group reduced their target price on United States Steel from $44.00 to $37.00 and set an "outperform" rating for the company in a research note on Friday, September 16th. BMO Capital Markets reduced their target price on United States Steel from $30.00 to $23.00 in a research note on Friday, June 17th. Finally, Morgan Stanley upped their target price on United States Steel from $20.00 to $21.50 and gave the stock an "equal weight" rating in a research note on Monday, August 1st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, United States Steel has a consensus rating of "Hold" and an average price target of $25.61.
United States Steel Profile
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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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