United States Steel Corporation (X) Shares Sold by Russell Investments Group Ltd.
Russell Investments Group Ltd. lessened its position in United States Steel Corporation (NYSE:X) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 371,788 shares of the basic materials company’s stock after selling 15,821 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.21% of United States Steel worth $9,540,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in United States Steel by 0.4% during the 2nd quarter. BlackRock Inc. now owns 14,343,698 shares of the basic materials company’s stock worth $317,570,000 after purchasing an additional 63,943 shares during the period. Amerigo Asset Management purchased a new stake in United States Steel during the 3rd quarter worth about $158,558,000. State Street Corp increased its holdings in United States Steel by 6.2% during the 2nd quarter. State Street Corp now owns 5,889,434 shares of the basic materials company’s stock worth $130,394,000 after purchasing an additional 341,591 shares during the period. Dimensional Fund Advisors LP increased its holdings in United States Steel by 7.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,245,149 shares of the basic materials company’s stock worth $71,851,000 after purchasing an additional 236,714 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in United States Steel by 2.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,970,333 shares of the basic materials company’s stock worth $50,558,000 after purchasing an additional 41,931 shares during the period. Hedge funds and other institutional investors own 64.27% of the company’s stock.
In other United States Steel news, SVP Sara A. Greenstein sold 3,606 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $30.00, for a total transaction of $108,180.00. Following the completion of the sale, the senior vice president now directly owns 51,744 shares of the company’s stock, valued at approximately $1,552,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin Bradley acquired 36,762 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were bought at an average cost of $27.23 per share, with a total value of $1,001,029.26. Following the completion of the transaction, the chief financial officer now directly owns 30,415 shares in the company, valued at approximately $828,200.45. The disclosure for this purchase can be found here. Over the last three months, insiders sold 19,265 shares of company stock valued at $577,950. Insiders own 1.00% of the company’s stock.
United States Steel (NYSE:X) last announced its earnings results on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.07 billion. United States Steel had a return on equity of 10.27% and a net margin of 1.05%. The business’s revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. research analysts forecast that United States Steel Corporation will post 1.8 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be given a $0.05 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.67%. United States Steel’s dividend payout ratio (DPR) is presently 29.85%.
X has been the subject of several analyst reports. Macquarie initiated coverage on United States Steel in a research report on Wednesday, September 6th. They set an “outperform” rating and a $31.00 price objective for the company. Bank of America raised United States Steel from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $29.00 to $31.00 in a research report on Tuesday, September 5th. BMO Capital Markets reaffirmed a “market perform” rating on shares of United States Steel in a research report on Friday, September 8th. Cowen reaffirmed a “hold” rating and set a $24.00 price objective on shares of United States Steel in a research report on Friday, September 1st. Finally, Citigroup upped their price objective on United States Steel from $20.00 to $22.00 and gave the stock a “sell” rating in a research report on Friday, September 15th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $29.34.
United States Steel Company Profile
United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).
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