Oregon Public Employees Retirement Fund raised its position in shares of United States Steel Corporation (NYSE:X) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,108 shares of the basic materials company’s stock after buying an additional 2,662 shares during the period. Oregon Public Employees Retirement Fund’s holdings in United States Steel Corporation were worth $1,397,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in United States Steel Corporation by 10.1% in the first quarter. Vanguard Group Inc. now owns 16,743,496 shares of the basic materials company’s stock worth $566,096,000 after buying an additional 1,539,412 shares in the last quarter. BlackRock Inc. increased its stake in shares of United States Steel Corporation by 12,021.7% in the first quarter. BlackRock Inc. now owns 14,279,755 shares of the basic materials company’s stock valued at $482,799,000 after buying an additional 14,161,952 shares during the period. State Street Corp increased its stake in shares of United States Steel Corporation by 0.5% in the first quarter. State Street Corp now owns 5,547,843 shares of the basic materials company’s stock valued at $187,574,000 after buying an additional 27,483 shares during the period. Morgan Stanley increased its stake in shares of United States Steel Corporation by 19.9% in the first quarter. Morgan Stanley now owns 3,090,213 shares of the basic materials company’s stock valued at $104,480,000 after buying an additional 512,075 shares during the period. Finally, Teachers Advisors LLC increased its stake in shares of United States Steel Corporation by 8.6% in the first quarter. Teachers Advisors LLC now owns 1,817,328 shares of the basic materials company’s stock valued at $61,444,000 after buying an additional 143,268 shares during the period. 69.08% of the stock is owned by hedge funds and other institutional investors.
United States Steel Corporation (NYSE:X) opened at 23.16 on Friday. United States Steel Corporation has a 52 week low of $15.72 and a 52 week high of $41.83. The company’s 50-day moving average price is $23.18 and its 200 day moving average price is $27.83. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 146.58 and a beta of 2.88.
United States Steel Corporation (NYSE:X) last issued its earnings results on Tuesday, July 25th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.66. United States Steel Corporation had a net margin of 0.24% and a return on equity of 6.50%. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the business posted ($0.32) EPS. United States Steel Corporation’s revenue was up 21.7% on a year-over-year basis. On average, analysts predict that United States Steel Corporation will post $1.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 9th will be paid a $0.05 dividend. The ex-dividend date is Monday, August 7th. This represents a $0.20 annualized dividend and a yield of 0.86%. United States Steel Corporation’s dividend payout ratio (DPR) is currently 125.00%.
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Several brokerages recently issued reports on X. Citigroup Inc. downgraded United States Steel Corporation from a “neutral” rating to a “sell” rating and cut their price target for the stock from $26.00 to $20.00 in a report on Friday, July 28th. Morgan Stanley restated a “buy” rating and issued a $34.00 target price (down from $48.00) on shares of United States Steel Corporation in a research report on Monday, May 1st. Zacks Investment Research cut United States Steel Corporation from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 23rd. Axiom Securities reiterated a “sell” rating on shares of United States Steel Corporation in a research report on Thursday, July 13th. Finally, Longbow Research reiterated a “neutral” rating on shares of United States Steel Corporation in a research report on Tuesday, May 9th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.36.
In related news, Director Stephen J. Girsky purchased 2,500 shares of the stock in a transaction on Tuesday, May 16th. The shares were purchased at an average cost of $19.94 per share, with a total value of $49,850.00. Following the acquisition, the director now directly owns 21,872 shares in the company, valued at $436,127.68. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Paul Anthony Mascarenas purchased 1,500 shares of the stock in a transaction on Thursday, May 18th. The stock was bought at an average cost of $19.31 per share, for a total transaction of $28,965.00. Following the completion of the acquisition, the director now owns 12,377 shares in the company, valued at $238,999.87. The disclosure for this purchase can be found here. Company 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).
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