KBC Group NV Raises Position in United States Steel Co. (X)
KBC Group NV increased its stake in shares of United States Steel Co. (NYSE:X) by 2,654.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,304 shares of the basic materials company’s stock after buying an additional 157,376 shares during the period. KBC Group NV owned 0.09% of United States Steel worth $4,190,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of X. Enterprise Financial Services Corp bought a new stake in United States Steel during the 3rd quarter worth about $120,000. Global X Management Co. LLC raised its holdings in United States Steel by 221.0% during the 2nd quarter. Global X Management Co. LLC now owns 5,473 shares of the basic materials company’s stock worth $121,000 after purchasing an additional 3,768 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in United States Steel by 10.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,975 shares of the basic materials company’s stock worth $154,000 after purchasing an additional 674 shares during the last quarter. NJ State Employees Deferred Compensation Plan bought a new stake in United States Steel during the 3rd quarter worth about $205,000. Finally, Sigma Planning Corp raised its holdings in United States Steel by 21.3% during the 2nd quarter. Sigma Planning Corp now owns 9,662 shares of the basic materials company’s stock worth $214,000 after purchasing an additional 1,696 shares during the last quarter. Institutional investors and hedge funds own 64.27% of the company’s stock.
In related news, VP Colleen M. Darragh sold 9,700 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $30.00, for a total transaction of $291,000.00. Following the completion of the sale, the vice president now directly owns 19,136 shares of the company’s stock, valued at approximately $574,080. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP David J. Rintoul sold 7,090 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $32.00, for a total value of $226,880.00. Following the sale, the senior vice president now directly owns 62,899 shares of the company’s stock, valued at $2,012,768. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,355 shares of company stock valued at $804,830. 1.00% of the stock is currently owned by company insiders.
Shares of United States Steel Co. (X) traded up $0.74 during mid-day trading on Friday, hitting $31.85. The stock had a trading volume of 13,239,100 shares, compared to its average volume of 16,538,783. The company has a current ratio of 1.89, a quick ratio of 1.23 and a debt-to-equity ratio of 1.03. The company has a market cap of $5,444.08, a PE ratio of 21.75 and a beta of 3.00. United States Steel Co. has a one year low of $18.55 and a one year high of $41.83.
United States Steel (NYSE:X) last announced its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.07 billion. United States Steel had a return on equity of 10.27% and a net margin of 1.05%. United States Steel’s revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 EPS. analysts anticipate that United States Steel Co. will post 1.81 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be paid a $0.05 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.63%. United States Steel’s dividend payout ratio (DPR) is presently 29.85%.
X has been the subject of several recent research reports. Macquarie initiated coverage on United States Steel in a report on Wednesday, September 6th. They set an “outperform” rating and a $31.00 price objective for the company. Bank of America raised United States Steel from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $29.00 to $31.00 in a report on Tuesday, September 5th. BMO Capital Markets reissued a “market perform” rating on shares of United States Steel in a report on Friday, September 8th. ValuEngine raised United States Steel from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Cowen reissued a “hold” rating and set a $24.00 price objective on shares of United States Steel in a report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $29.34.
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About United States Steel
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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