River & Mercantile Asset Management LLP acquired a new stake in shares of United States Steel Co. (NYSE:X) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,638 shares of the basic materials company’s stock, valued at approximately $148,000.
Other institutional investors also recently added to or reduced their stakes in the company. NEXT Financial Group Inc raised its position in shares of United States Steel by 139.8% during the second quarter. NEXT Financial Group Inc now owns 3,153 shares of the basic materials company’s stock valued at $48,000 after buying an additional 1,838 shares during the last quarter. Rational Advisors LLC increased its position in United States Steel by 178.5% in the second quarter. Rational Advisors LLC now owns 4,280 shares of the basic materials company’s stock worth $66,000 after purchasing an additional 2,743 shares during the last quarter. CenterStar Asset Management LLC bought a new stake in United States Steel in the second quarter worth $77,000. Coastal Investment Advisors Inc. increased its position in United States Steel by 5,611.0% in the second quarter. Coastal Investment Advisors Inc. now owns 5,711 shares of the basic materials company’s stock worth $90,000 after purchasing an additional 5,611 shares during the last quarter. Finally, Trustcore Financial Services LLC bought a new stake in United States Steel in the second quarter worth $92,000. Hedge funds and other institutional investors own 60.75% of the company’s stock.
Several equities research analysts recently weighed in on the stock. ValuEngine upgraded shares of United States Steel from a “hold” rating to a “buy” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. cut shares of United States Steel from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $26.00 to $14.00 in a research report on Monday, September 23rd. Barclays assumed coverage on shares of United States Steel in a research report on Friday, September 6th. They issued an “overweight” rating on the stock. Vertical Group upgraded shares of United States Steel from a “sell” rating to a “buy” rating in a research report on Wednesday, June 19th. Finally, Credit Suisse Group reduced their price target on shares of United States Steel from $9.00 to $8.00 and set an “underperform” rating on the stock in a research report on Thursday, September 19th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $16.55.
Shares of X opened at $11.34 on Friday. The firm has a market capitalization of $1.72 billion, a P/E ratio of 2.23, a P/E/G ratio of 13.28 and a beta of 3.04. United States Steel Co. has a 12-month low of $9.93 and a 12-month high of $29.84. The company has a current ratio of 1.41, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average price of $11.39 and a 200-day moving average price of $14.09.
United States Steel (NYSE:X) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.05. United States Steel had a net margin of 6.95% and a return on equity of 19.27%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same period in the prior year, the firm earned $1.46 earnings per share. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. Analysts predict that United States Steel Co. will post -0.1 earnings per share for the current year.
United States Steel 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: North American Flat-Rolled (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets and tin mill products, as well as all iron ore and coke.
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