Stevens Capital Management LP bought a new position in United States Steel Co. (NYSE:X) during the 3rd quarter, HoldingsChannel reports. The fund bought 25,221 shares of the basic materials company’s stock, valued at approximately $769,000.
Other hedge funds have also recently modified their holdings of the company. Advisors Preferred LLC increased its position in United States Steel by 131.7% in the 2nd quarter. Advisors Preferred LLC now owns 3,074 shares of the basic materials company’s stock worth $107,000 after purchasing an additional 1,747 shares during the last quarter. Exane Derivatives increased its position in United States Steel by 364,000.0% in the 3rd quarter. Exane Derivatives now owns 3,641 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 3,640 shares during the last quarter. Trustcore Financial Services LLC acquired a new position in United States Steel in the 3rd quarter worth about $128,000. Truvestments Capital LLC acquired a new position in United States Steel in the 3rd quarter worth about $143,000. Finally, Clearstead Advisors LLC acquired a new position in United States Steel in the 3rd quarter worth about $206,000. 63.23% of the stock is currently owned by institutional investors.
In related news, VP James E. Bruno sold 12,000 shares of the stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $25.75, for a total transaction of $309,000.00. Following the completion of the sale, the vice president now owns 54,137 shares in the company, valued at approximately $1,394,027.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin Bradley bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The shares were acquired at an average price of $29.53 per share, with a total value of $295,300.00. Following the purchase, the chief financial officer now owns 102,785 shares in the company, valued at $3,035,241.05. The disclosure for this purchase can be found here. Corporate insiders own 1.01% of the company’s stock.
X opened at $21.31 on Friday. The stock has a market cap of $3.90 billion, a PE ratio of 10.98, a P/E/G ratio of 0.50 and a beta of 2.88. United States Steel Co. has a 52-week low of $21.17 and a 52-week high of $47.64. The company has a quick ratio of 0.99, a current ratio of 1.62 and a debt-to-equity ratio of 0.63.
United States Steel (NYSE:X) last released its quarterly earnings results on Friday, November 2nd. The basic materials company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.06. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.67 billion. United States Steel had a return on equity of 21.69% and a net margin of 5.01%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.92 EPS. On average, equities research analysts forecast that United States Steel Co. will post 5.48 earnings per share for the current year.
United States Steel announced that its Board of Directors has authorized a stock repurchase plan on Thursday, November 1st that allows the company to buyback $300.00 million in shares. This buyback authorization allows the basic materials company to reacquire up to 6.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, November 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.94%. United States Steel’s dividend payout ratio (DPR) is presently 10.31%.
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United States Steel Company Profile
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.
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