Louisiana State Employees Retirement System raised its stake in United States Steel Corporation (NYSE:X) by 3.6% during the second quarter, Holdings Channel reports. The institutional investor owned 45,600 shares of the basic materials company’s stock after buying an additional 1,600 shares during the period. Louisiana State Employees Retirement System’s holdings in United States Steel Corporation were worth $1,010,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its stake in United States Steel Corporation by 4.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 60,446 shares of the basic materials company’s stock valued at $2,044,000 after buying an additional 2,615 shares in the last quarter. IFP Advisors Inc increased its stake in United States Steel Corporation by 8.2% in the first quarter. IFP Advisors Inc now owns 15,646 shares of the basic materials company’s stock valued at $529,000 after buying an additional 1,192 shares in the last quarter. Nikko Asset Management Americas Inc. increased its stake in United States Steel Corporation by 36.4% in the first quarter. Nikko Asset Management Americas Inc. now owns 207,100 shares of the basic materials company’s stock valued at $7,002,000 after buying an additional 55,300 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in United States Steel Corporation by 251.6% in the first quarter. Janney Montgomery Scott LLC now owns 34,099 shares of the basic materials company’s stock valued at $1,153,000 after buying an additional 24,401 shares in the last quarter. Finally, Glen Harbor Capital Management LLC increased its stake in United States Steel Corporation by 571.1% in the first quarter. Glen Harbor Capital Management LLC now owns 28,992 shares of the basic materials company’s stock valued at $980,000 after buying an additional 24,672 shares in the last quarter. Institutional investors own 67.18% of the company’s stock.
United States Steel Corporation (X) opened at 22.98 on Friday. The company’s 50-day moving average price is $22.49 and its 200-day moving average price is $28.52. United States Steel Corporation has a 52-week low of $15.72 and a 52-week high of $41.83. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 145.44 and a beta of 2.88. United States Steel Corporation also saw unusually large options trading on Wednesday. Stock investors purchased 51,977 put options on the company. This represents an increase of approximately 194% compared to the typical volume of 17,668 put options.
United States Steel Corporation (NYSE:X) last issued its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.66. United States Steel Corporation had a return on equity of 6.50% and a net margin of 0.24%. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the previous year, the company posted ($0.32) earnings per share. The business’s revenue was up 21.7% on a year-over-year basis. Analysts predict that United States Steel Corporation will post $1.46 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Wednesday, August 9th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Monday, August 7th. United States Steel Corporation’s dividend payout ratio is presently 125.00%.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece of content on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The legal version of this piece of content can be read at https://stocknewstimes.com/2017/07/29/louisiana-state-employees-retirement-system-has-1-01-million-stake-in-united-states-steel-corporation-nysex.html.
Several equities research analysts have issued reports on the company. Longbow Research assumed coverage on United States Steel Corporation in a report on Wednesday, April 12th. They set a “neutral” rating on the stock. Vetr downgraded United States Steel Corporation from a “strong-buy” rating to a “buy” rating and set a $38.38 price objective on the stock. in a report on Tuesday, April 11th. Cowen and Company restated an “outperform” rating and set a $60.00 price objective on shares of United States Steel Corporation in a report on Monday, April 3rd. Bank of America Corporation downgraded United States Steel Corporation from a “buy” rating to a “neutral” rating in a report on Wednesday, April 26th. Finally, Macquarie upgraded United States Steel Corporation from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $23.00 to $30.00 in a report on Monday, April 24th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $28.20.
In other news, Director Paul Anthony Mascarenas acquired 1,500 shares of United States Steel Corporation stock in a transaction dated Thursday, May 18th. The stock was bought at an average price of $19.31 per share, for a total transaction of $28,965.00. Following the completion of the acquisition, the director now directly owns 12,377 shares in the company, valued at approximately $238,999.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephen J. Girsky acquired 2,500 shares of United States Steel Corporation stock in a transaction dated Tuesday, May 16th. The shares were purchased at an average price of $19.94 per share, with a total value of $49,850.00. Following the acquisition, the director now owns 21,872 shares of the company’s stock, valued at $436,127.68. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 14,000 shares of company stock valued at $278,415. Corporate insiders own 1.00% of the company’s stock.
About United States Steel Corporation
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).
Want to see what other hedge funds are holding X? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United States Steel Corporation (NYSE:X).
Receive News & Ratings for United States Steel Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United States Steel Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
