Stevens Capital Management LP purchased a new stake in United States Steel Co. (NYSE:X) in the third quarter, according to its most recent filing with the SEC. The fund purchased 25,221 shares of the basic materials company’s stock, valued at approximately $769,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its stake in United States Steel by 4.3% during the 3rd quarter. BlackRock Inc. now owns 15,829,392 shares of the basic materials company’s stock worth $482,480,000 after buying an additional 654,678 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in United States Steel by 4.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,921,315 shares of the basic materials company’s stock worth $149,998,000 after buying an additional 223,665 shares during the last quarter. Pelham Capital Ltd. grew its stake in United States Steel by 120.0% during the 3rd quarter. Pelham Capital Ltd. now owns 3,190,105 shares of the basic materials company’s stock worth $97,234,000 after buying an additional 1,740,105 shares during the last quarter. Luminus Management LLC grew its stake in United States Steel by 88.9% during the 2nd quarter. Luminus Management LLC now owns 2,491,501 shares of the basic materials company’s stock worth $86,580,000 after buying an additional 1,172,525 shares during the last quarter. Finally, Hodges Capital Management Inc. grew its stake in United States Steel by 31.4% during the 3rd quarter. Hodges Capital Management Inc. now owns 1,373,722 shares of the basic materials company’s stock worth $41,871,000 after buying an additional 328,492 shares during the last quarter. Institutional investors and hedge funds own 63.23% of the company’s stock.

A number of research analysts have issued reports on the company. ValuEngine lowered United States Steel from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Longbow Research reduced their price target on United States Steel from $49.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, November 27th. Deutsche Bank lowered United States Steel from a “buy” rating to a “hold” rating and reduced their price target for the stock from $47.00 to $35.00 in a research report on Tuesday, October 2nd. Morgan Stanley lowered United States Steel from an “overweight” rating to an “underweight” rating and reduced their price target for the stock from $44.00 to $30.00 in a research report on Monday, August 27th. Finally, Credit Suisse Group reduced their price target on United States Steel from $55.00 to $48.00 in a research report on Thursday, August 23rd. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $39.19.

Shares of United States Steel stock opened at $21.31 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $3.90 billion, a PE ratio of 10.98, a PEG ratio of 0.50 and a beta of 2.88. United States Steel Co. has a fifty-two week low of $21.17 and a fifty-two week high of $47.64.

United States Steel (NYSE:X) last announced its quarterly earnings data on Friday, November 2nd. The basic materials company reported $1.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.06. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.67 billion. United States Steel had a return on equity of 21.69% and a net margin of 5.01%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Equities analysts anticipate that United States Steel Co. will post 5.48 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be issued a $0.05 dividend. 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 10.31%.

United States Steel announced that its Board of Directors has initiated a share repurchase program on Thursday, November 1st that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

In other news, VP James E. Bruno sold 12,000 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 54,137 shares of the company’s stock, valued at $1,394,027.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Bradley bought 10,000 shares of the business’s stock in a transaction dated Wednesday, November 7th. The shares were bought at an average cost of $29.53 per share, for a total transaction of $295,300.00. Following the completion of the transaction, the chief financial officer now directly owns 102,785 shares of the company’s stock, 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.

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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.

Further Reading: Bond

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

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