Legal & General Group Plc Sells 57,130 Shares of United States Steel Co. (X)
Legal & General Group Plc decreased its holdings in United States Steel Co. (NYSE:X) by 13.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 362,676 shares of the basic materials company’s stock after selling 57,130 shares during the period. Legal & General Group Plc owned 0.21% of United States Steel worth $9,306,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Teachers Retirement System of The State of Kentucky grew its stake in United States Steel by 16.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 37,620 shares of the basic materials company’s stock valued at $965,000 after acquiring an additional 5,200 shares in the last quarter. Van ECK Associates Corp grew its stake in United States Steel by 0.9% during the third quarter. Van ECK Associates Corp now owns 294,125 shares of the basic materials company’s stock valued at $7,547,000 after acquiring an additional 2,611 shares in the last quarter. Connecticut Wealth Management LLC purchased a new position in United States Steel during the third quarter valued at approximately $225,000. Pacer Advisors Inc. grew its stake in United States Steel by 22.0% during the third quarter. Pacer Advisors Inc. now owns 33,080 shares of the basic materials company’s stock valued at $849,000 after acquiring an additional 5,961 shares in the last quarter. Finally, Macquarie Group Ltd. purchased a new position in United States Steel during the third quarter valued at approximately $231,000. Hedge funds and other institutional investors own 64.27% of the company’s stock.
In other news, SVP David J. Rintoul sold 10,883 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $33.50, for a total value of $364,580.50. Following the completion of the sale, the senior vice president now directly owns 61,279 shares in the company, valued at approximately $2,052,846.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eugene Sperling acquired 1,000 shares of the stock in a transaction dated Friday, September 15th. The stock was acquired at an average price of $25.16 per share, with a total value of $25,160.00. Following the completion of the acquisition, the director now owns 3,009 shares in the company, valued at approximately $75,706.44. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 42,708 shares of company stock valued at $1,349,921. Company 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 the consensus estimate of $0.67 by $0.25. United States Steel had a net margin of 1.05% and a return on equity of 10.27%. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same period in the previous year, the business posted $0.40 earnings per share. United States Steel’s revenue for the quarter was up 20.9% on a year-over-year basis. analysts anticipate that United States Steel Co. will post 1.79 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 10th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.61%. United States Steel’s payout ratio is 29.85%.
X has been the subject of several recent analyst reports. Macquarie initiated coverage on shares of United States Steel in a research note on Wednesday, September 6th. They set an “outperform” rating and a $31.00 price objective for the company. Bank of America raised shares of United States Steel from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $29.00 to $31.00 in a research note on Tuesday, September 5th. BMO Capital Markets reaffirmed a “market perform” rating on shares of United States Steel in a research note on Friday, September 8th. ValuEngine raised shares of United States Steel from a “hold” rating to a “buy” rating in a research note on Thursday, December 7th. Finally, Cowen reaffirmed a “hold” rating and set a $24.00 price objective on shares of United States Steel in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $29.61.
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About United States Steel
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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