25,221 Shares in United States Steel Co. (X) Acquired by Stevens Capital Management LP

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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.

Several research analysts have weighed in on the company. Morgan Stanley lowered United States Steel from an “overweight” rating to an “underweight” rating and dropped their target price for the stock from $44.00 to $30.00 in a research report on Monday, August 27th. Credit Suisse Group dropped their target price on United States Steel from $55.00 to $48.00 in a research report on Thursday, August 23rd. ValuEngine lowered United States Steel from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Deutsche Bank lowered United States Steel from a “buy” rating to a “hold” rating and dropped their target price for the stock from $47.00 to $35.00 in a research report on Tuesday, October 2nd. Finally, Citigroup dropped their target price on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, November 6th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. United States Steel has a consensus rating of “Hold” and a consensus price target of $39.19.

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

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