Alps Advisors Inc. Takes Position in United States Steel Co. (X)
Alps Advisors Inc. bought a new position in shares of United States Steel Co. (NYSE:X) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,473 shares of the basic materials company’s stock, valued at approximately $228,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Enterprise Financial Services Corp bought a new position in shares of United States Steel during the third quarter worth approximately $120,000. US Bancorp DE increased its holdings in shares of United States Steel by 81.2% during the fourth quarter. US Bancorp DE now owns 4,563 shares of the basic materials company’s stock worth $160,000 after purchasing an additional 2,045 shares during the period. NJ State Employees Deferred Compensation Plan bought a new position in shares of United States Steel during the third quarter worth approximately $205,000. CIBC Asset Management Inc bought a new position in shares of United States Steel during the fourth quarter worth approximately $209,000. Finally, Advisor Group Inc. increased its holdings in shares of United States Steel by 3.2% during the second quarter. Advisor Group Inc. now owns 9,834 shares of the basic materials company’s stock worth $218,000 after purchasing an additional 308 shares during the period. 64.31% of the stock is currently owned by institutional investors.
A number of brokerages recently issued reports on X. BMO Capital Markets lifted their price objective on shares of United States Steel from $29.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, November 2nd. Cowen raised shares of United States Steel from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $20.00 to $28.00 in a research note on Thursday, November 2nd. ValuEngine cut shares of United States Steel from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Bank of America set a $46.00 price objective on shares of United States Steel and gave the company a “buy” rating in a research note on Monday, January 8th. Finally, Longbow Research raised shares of United States Steel from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $32.47.
United States Steel (NYSE:X) last issued its earnings results on Wednesday, January 31st. The basic materials company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. United States Steel had a net margin of 3.16% and a return on equity of 12.56%. The firm had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the business posted $0.27 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis. equities research analysts expect that United States Steel Co. will post 3.98 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.52%. United States Steel’s dividend payout ratio is currently 9.17%.
In other news, VP Colleen M. Darragh sold 9,700 shares of United States Steel stock in a transaction on Friday, December 1st. The shares were sold at an average price of $30.00, for a total transaction of $291,000.00. Following the transaction, the vice president now owns 19,136 shares in the company, valued at $574,080. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Sara A. Greenstein sold 3,606 shares of United States Steel stock in a transaction 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 transaction, the senior vice president now owns 51,744 shares in the company, valued at approximately $1,552,320. The disclosure for this sale can be found here. Insiders sold 128,706 shares of company stock worth $4,653,456 in the last 90 days. Company insiders own 1.00% of the company’s stock.
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United States Steel 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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