Voloridge Investment Management LLC increased its holdings in shares of United States Steel Co. (NYSE:X) by 20.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 906,350 shares of the basic materials company’s stock after purchasing an additional 156,893 shares during the quarter. Voloridge Investment Management LLC owned 0.53% of United States Steel worth $10,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in X. Howe & Rusling Inc. purchased a new stake in United States Steel during the third quarter valued at $29,000. Quadrant Capital Group LLC increased its position in United States Steel by 92.1% during the third quarter. Quadrant Capital Group LLC now owns 4,156 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 1,993 shares during the last quarter. NEXT Financial Group Inc increased its position in United States Steel by 139.8% during the second quarter. NEXT Financial Group Inc now owns 3,153 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 1,838 shares during the last quarter. Rational Advisors LLC increased its position in United States Steel by 178.5% during the second quarter. Rational Advisors LLC now owns 4,280 shares of the basic materials company’s stock valued at $66,000 after acquiring an additional 2,743 shares during the last quarter. Finally, CenterStar Asset Management LLC purchased a new stake in United States Steel during the second quarter valued at $77,000. 70.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:X traded down $0.81 during trading on Friday, hitting $13.12. 24,312,090 shares of the company’s stock were exchanged, compared to its average volume of 13,152,575. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.42 and a quick ratio of 0.69. United States Steel Co. has a 52-week low of $9.93 and a 52-week high of $24.74. The business’s 50-day simple moving average is $12.42 and its 200 day simple moving average is $12.93. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 2.45, a PEG ratio of 36.64 and a beta of 3.04.
United States Steel (NYSE:X) last released its earnings results on Thursday, October 31st. The basic materials company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.08. United States Steel had a return on equity of 10.57% and a net margin of 4.56%. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the business posted $1.79 earnings per share. The firm’s revenue was down 17.7% on a year-over-year basis. On average, sell-side analysts anticipate that United States Steel Co. will post 0.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 13th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Tuesday, November 12th. United States Steel’s dividend payout ratio is currently 3.73%.
A number of analysts recently commented on the company. BNP Paribas assumed coverage on United States Steel in a research report on Thursday, November 14th. They set a “sell” rating and a $10.50 price objective for the company. Exane BNP Paribas began coverage on United States Steel in a research report on Thursday, November 14th. They issued an “underperform” rating and a $10.50 price target for the company. Argus cut United States Steel from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Cfra cut United States Steel from a “sell” rating to a “strong sell” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. cut United States Steel from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $26.00 to $14.00 in a research report on Monday, September 23rd. Nine analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.83.
United States Steel Company Profile
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.
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