Public Employees Retirement System of Ohio decreased its position in United States Steel Co. (NYSE:X) by 14.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,535 shares of the basic materials company’s stock after selling 20,975 shares during the quarter. Public Employees Retirement System of Ohio owned 0.07% of United States Steel worth $4,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in X. Nomura Holdings Inc. lifted its position in United States Steel by 103.2% in the second quarter. Nomura Holdings Inc. now owns 54,373 shares of the basic materials company’s stock valued at $1,889,000 after purchasing an additional 1,748,567 shares during the last quarter. PointState Capital LP bought a new stake in United States Steel in the first quarter valued at approximately $60,076,000. Pelham Capital Ltd. bought a new stake in United States Steel in the second quarter valued at approximately $50,388,000. Luminus Management LLC lifted its position in United States Steel by 88.9% in the second quarter. Luminus Management LLC now owns 2,491,501 shares of the basic materials company’s stock valued at $86,580,000 after purchasing an additional 1,172,525 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in United States Steel by 261.9% in the first quarter. Allianz Asset Management GmbH now owns 907,501 shares of the basic materials company’s stock valued at $31,935,000 after purchasing an additional 656,726 shares during the last quarter. Institutional investors own 68.03% of the company’s stock.
X has been the subject of several recent research reports. Zacks Investment Research upgraded United States Steel from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Tuesday, July 17th. ValuEngine upgraded United States Steel from a “sell” rating to a “hold” rating in a research report on Wednesday, September 26th. Morgan Stanley downgraded United States Steel from an “overweight” rating to an “underweight” rating and lowered their price objective for the company from $44.00 to $30.00 in a research report on Monday, August 27th. Deutsche Bank downgraded United States Steel from a “buy” rating to a “hold” rating and decreased their target price for the company from $47.00 to $35.00 in a report on Tuesday. Finally, Citigroup upped their target price on United States Steel from $42.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, June 12th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $41.08.
Shares of United States Steel stock opened at $29.90 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.66 and a debt-to-equity ratio of 0.70. The company has a market cap of $5.40 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 0.66 and a beta of 3.11. United States Steel Co. has a 52 week low of $24.45 and a 52 week high of $47.64.
United States Steel (NYSE:X) last announced its earnings results on Wednesday, August 1st. The basic materials company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.33. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.47 billion. United States Steel had a return on equity of 18.70% and a net margin of 4.09%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 earnings per share. equities analysts predict that United States Steel Co. will post 5.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Thursday, August 9th were paid a $0.05 dividend. The ex-dividend date was Wednesday, August 8th. This represents a $0.20 annualized dividend and a yield of 0.67%. United States Steel’s payout ratio is 10.31%.
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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