Amalgamated Bank increased its stake in shares of United States Steel Co. (NYSE:X) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,238 shares of the basic materials company’s stock after acquiring an additional 2,001 shares during the quarter. Amalgamated Bank’s holdings in United States Steel were worth $1,240,000 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. US Bancorp DE boosted its stake in United States Steel by 81.2% during the fourth quarter. US Bancorp DE now owns 4,563 shares of the basic materials company’s stock worth $160,000 after acquiring an additional 2,045 shares in the last quarter. Dynamic Advisors Solutions LLC acquired a new position in United States Steel during the fourth quarter worth $202,000. CIBC Asset Management Inc acquired a new position in United States Steel during the fourth quarter worth $209,000. Wedbush Securities Inc. acquired a new position in United States Steel during the fourth quarter worth $214,000. Finally, Koshinski Asset Management Inc. acquired a new position in United States Steel during the fourth quarter worth $218,000. 68.34% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO David B. Burritt sold 36,072 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $39.95, for a total transaction of $1,441,076.40. Following the completion of the sale, the chief executive officer now owns 166,411 shares in the company, valued at $6,648,119.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sara A. Greenstein sold 2,613 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $45.33, for a total transaction of $118,447.29. Following the sale, the vice president now owns 51,250 shares of the company’s stock, valued at approximately $2,323,162.50. The disclosure for this sale can be found here. Insiders have sold 128,831 shares of company stock valued at $5,195,060 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.
United States Steel (NYSE:X) last posted its quarterly earnings data on Wednesday, January 31st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. United States Steel had a net margin of 2.49% and a return on equity of 10.21%. The business had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter last year, the company posted $0.27 earnings per share. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. sell-side analysts expect that United States Steel Co. will post 4.01 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 9th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.46%. United States Steel’s dividend payout ratio (DPR) is presently 11.63%.
Several research firms have weighed in on X. Credit Suisse Group upped their price objective on shares of United States Steel from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, March 8th. JPMorgan Chase & Co. upped their price objective on shares of United States Steel from $48.00 to $69.00 in a report on Friday. ValuEngine upgraded shares of United States Steel from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Bank of America set a $46.00 price objective on shares of United States Steel and gave the stock a “buy” rating in a report on Monday, January 8th. Finally, KeyCorp restated a “hold” rating on shares of United States Steel in a report on Friday, November 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $37.00.
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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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