United States Steel Co. (X) Shares Bought by Texas Permanent School Fund

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Texas Permanent School Fund boosted its holdings in shares of United States Steel Co. (NYSE:X) by 1.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 117,616 shares of the basic materials company’s stock after buying an additional 1,613 shares during the quarter. Texas Permanent School Fund’s holdings in United States Steel were worth $2,292,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Mechanics Bank Trust Department raised its position in United States Steel by 4.1% during the 4th quarter. Mechanics Bank Trust Department now owns 12,653 shares of the basic materials company’s stock worth $231,000 after buying an additional 500 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of United States Steel by 7.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 10,446 shares of the basic materials company’s stock worth $191,000 after purchasing an additional 724 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of United States Steel by 1.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 70,736 shares of the basic materials company’s stock worth $1,290,000 after purchasing an additional 899 shares during the period. Honeywell International Inc. grew its stake in shares of United States Steel by 0.3% during the 4th quarter. Honeywell International Inc. now owns 299,400 shares of the basic materials company’s stock worth $5,461,000 after purchasing an additional 1,000 shares during the period. Finally, American International Group Inc. grew its stake in shares of United States Steel by 0.3% during the 4th quarter. American International Group Inc. now owns 361,308 shares of the basic materials company’s stock worth $6,590,000 after purchasing an additional 1,067 shares during the period. 66.96% of the stock is owned by institutional investors.

X has been the topic of a number of analyst reports. UBS Group cut shares of United States Steel from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $22.00 to $10.00 in a research note on Wednesday, May 8th. Jefferies Financial Group cut shares of United States Steel from a “buy” rating to a “hold” rating and set a $21.15 price objective on the stock. in a research note on Tuesday, January 22nd. Argus dropped their price objective on shares of United States Steel from $30.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, February 1st. They noted that the move was a valuation call. Berenberg Bank raised shares of United States Steel from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Thursday, February 21st. Finally, Morgan Stanley raised shares of United States Steel from an “underweight” rating to an “equal weight” rating and set a $22.00 price objective on the stock in a research note on Monday, January 28th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $22.61.

United States Steel stock opened at $14.59 on Friday. United States Steel Co. has a 1 year low of $14.16 and a 1 year high of $39.23. The firm has a market capitalization of $2.52 billion, a P/E ratio of 2.72, a P/E/G ratio of 1.07 and a beta of 2.69. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 1.47.

United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.30. United States Steel had a net margin of 7.92% and a return on equity of 24.72%. The firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same quarter last year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, analysts forecast that United States Steel Co. will post 1.7 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 13th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.20 dividend on an annualized basis and a yield of 1.37%. United States Steel’s dividend payout ratio is currently 3.73%.

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About United States Steel

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: North American Flat-Rolled (Flat-Rolled), 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 all iron ore and coke.

Read More: How is Preferred Stock Different from Common Stock?

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Institutional Ownership by Quarter for United States Steel (NYSE:X)

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