Bell & Brown Wealth Advisors LLC acquired a new stake in United States Steel Co. (NYSE:X) in the 4th quarter, HoldingsChannel reports. The fund acquired 24,099 shares of the basic materials company’s stock, valued at approximately $848,000.
Other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE increased its stake in shares of United States Steel by 81.2% in the fourth quarter. US Bancorp DE now owns 4,563 shares of the basic materials company’s stock valued at $160,000 after buying an additional 2,045 shares during the period. Calamos Advisors LLC acquired a new position in shares of United States Steel in the fourth quarter valued at approximately $201,000. Dynamic Advisors Solutions LLC acquired a new position in shares of United States Steel in the fourth quarter valued at approximately $202,000. CIBC Asset Management Inc acquired a new position in shares of United States Steel in the fourth quarter valued at approximately $209,000. Finally, Wedbush Securities Inc. acquired a new position in shares of United States Steel in the fourth quarter valued at approximately $214,000. 66.01% of the stock is owned by institutional investors.
In related news, SVP Sara A. Greenstein sold 3,606 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $30.00, for a total value of $108,180.00. Following the transaction, the senior vice president now directly owns 51,744 shares in the company, valued at approximately $1,552,320. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Richard Fruehauf sold 1,594 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $45.05, for a total value of $71,809.70. The disclosure for this sale can be found here. Insiders have sold a total of 168,097 shares of company stock worth $6,389,476 over the last 90 days. Company insiders own 1.00% of the company’s stock.
United States Steel (NYSE:X) last posted its quarterly earnings results on Wednesday, January 31st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. The firm had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.10 billion. United States Steel had a return on equity of 12.56% and a net margin of 3.16%. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 EPS. sell-side analysts anticipate that United States Steel Co. will post 3.98 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Thursday, February 8th. United States Steel’s payout ratio is 11.63%.
Several analysts recently commented on X shares. BMO Capital Markets upped their target price on United States Steel to $40.00 and gave the company a “market perform” rating in a report on Friday, February 2nd. Morgan Stanley reduced their target price on United States Steel from $46.00 to $42.00 and set an “overweight” rating on the stock in a report on Tuesday, February 6th. Credit Suisse Group upped their target price on United States Steel from $34.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Cowen reiterated a “hold” rating and issued a $40.00 target price on shares of United States Steel in a report on Thursday, January 4th. Finally, Axiom Securities upgraded United States Steel from a “sell” rating to a “hold” rating and reduced their target price for the company from $41.83 to $18.55 in a report on Monday, December 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $35.29.
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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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