Chemical Bank Takes $208,000 Position in United States Steel Co. (X)

Chemical Bank purchased a new stake in shares of United States Steel Co. (NYSE:X) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,900 shares of the basic materials company’s stock, valued at approximately $208,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. increased its holdings in shares of United States Steel by 24.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 73,221 shares of the basic materials company’s stock valued at $2,577,000 after acquiring an additional 14,617 shares in the last quarter. Fairfield Bush & CO. acquired a new position in shares of United States Steel during the fourth quarter valued at about $211,000. We Are One Seven LLC acquired a new position in shares of United States Steel during the fourth quarter valued at about $132,000. Banco de Sabadell S.A acquired a new position in shares of United States Steel during the fourth quarter valued at about $100,000. Finally, BRYN MAWR TRUST Co acquired a new position in shares of United States Steel during the fourth quarter valued at about $264,000. 68.26% of the stock is owned by institutional investors and hedge funds.

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United States Steel Co. (NYSE:X) opened at $33.94 on Monday. United States Steel Co. has a fifty-two week low of $18.55 and a fifty-two week high of $47.64. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.75 and a quick ratio of 1.11. The firm has a market cap of $5,969.47, a P/E ratio of 15.57, a P/E/G ratio of 0.95 and a beta of 2.79.

United States Steel (NYSE:X) last issued its quarterly earnings results on Wednesday, January 31st. The basic materials company reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the company earned $0.27 EPS. United States Steel’s quarterly revenue was up 18.2% on a year-over-year basis. analysts expect that United States Steel Co. will post 4.45 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 9th were issued a $0.05 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.20 annualized dividend and a yield of 0.59%. United States Steel’s dividend payout ratio (DPR) is presently 9.17%.

In other United States Steel news, SVP David J. Rintoul sold 17,640 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $36.57, for a total value of $645,094.80. Following the sale, the senior vice president now owns 63,449 shares in the company, valued at approximately $2,320,329.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David B. Burritt sold 6,936 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $39.95, for a total value of $277,093.20. Following the completion of the sale, the chief executive officer now owns 179,567 shares in the company, valued at approximately $7,173,701.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,595 shares of company stock worth $5,427,450. 1.01% of the stock is owned by corporate insiders.

X has been the topic of several recent analyst reports. Morgan Stanley cut their price objective on shares of United States Steel from $46.00 to $42.00 and set an “overweight” rating on the stock in a report on Tuesday, February 6th. Cowen restated a “market perform” rating and set a $41.00 price objective (up previously from $40.00) on shares of United States Steel in a report on Thursday, February 1st. ValuEngine upgraded shares of United States Steel from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Credit Suisse Group upped their price objective on shares of United States Steel from $34.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Finally, Longbow Research upgraded shares of United States Steel from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. United States Steel has a consensus rating of “Hold” and an average target price of $37.57.

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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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Institutional Ownership by Quarter for United States Steel (NYSE:X)

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