Investors bought shares of United States Steel Corp. (NYSE:X) on weakness during trading hours on Thursday. $55.47 million flowed into the stock on the tick-up and $44.30 million flowed out of the stock on the tick-down, for a money net flow of $11.17 million into the stock. Of all stocks tracked, United States Steel Corp. had the 10th highest net in-flow for the day. United States Steel Corp. traded down ($0.22) for the day and closed at $16.06
X has been the subject of several research reports. Rosenblatt Securities restated a “buy” rating and set a $25.00 price target on shares of United States Steel Corp. in a research report on Friday, May 27th. Vetr downgraded shares of United States Steel Corp. from a “strong-buy” rating to a “buy” rating and set a $19.01 price objective on the stock. in a report on Wednesday, June 8th. Zacks Investment Research raised shares of United States Steel Corp. from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Thursday, June 30th. Credit Suisse Group AG set a $29.00 price objective on shares of United States Steel Corp. and gave the company a “buy” rating in a report on Wednesday, July 27th. Finally, Argus raised shares of United States Steel Corp. from a “hold” rating to a “buy” rating and upped their price objective for the company from $25.49 to $30.00 in a report on Thursday, July 28th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.84.
The firm’s market cap is $2.36 billion. The company’s 50-day moving average price is $21.40 and its 200 day moving average price is $17.99.
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United States Steel Corp. (NYSE:X) last announced its quarterly earnings data on Tuesday, July 26th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.18. The company earned $2.58 billion during the quarter, compared to the consensus estimate of $2.68 billion. United States Steel Corp. had a negative return on equity of 20.96% and a negative net margin of 15.09%. The firm’s revenue was down 10.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.79) EPS. On average, equities analysts predict that United States Steel Corp. will post $3.27 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 10th. Investors of record on Wednesday, August 10th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, August 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.25%. United States Steel Corp.’s dividend payout ratio (DPR) is presently -1.88%.
Several hedge funds and other institutional investors have recently made changes to their positions in X. Adage Capital Partners GP L.L.C. bought a new position in shares of United States Steel Corp. during the first quarter worth about $41,730,000. State Street Corp increased its position in shares of United States Steel Corp. by 4.7% in the first quarter. State Street Corp now owns 5,447,397 shares of the company’s stock worth $87,431,000 after buying an additional 244,875 shares during the period. BlackRock Group LTD increased its position in shares of United States Steel Corp. by 38.3% in the first quarter. BlackRock Group LTD now owns 153,835 shares of the company’s stock worth $2,470,000 after buying an additional 42,600 shares during the period. Canada Pension Plan Investment Board increased its position in shares of United States Steel Corp. by 47.0% in the first quarter. Canada Pension Plan Investment Board now owns 9,700 shares of the company’s stock worth $156,000 after buying an additional 3,100 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in shares of United States Steel Corp. by 377.0% in the second quarter. BNP Paribas Arbitrage SA now owns 276,342 shares of the company’s stock worth $4,659,000 after buying an additional 218,408 shares during the period. Institutional investors own 63.56% of the company’s stock.
About United States Steel Corp.
United States Steel Corporation (U. S. Steel) 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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