Janney Montgomery Scott LLC Raises Position in United States Steel Corporation (X)

Janney Montgomery Scott LLC boosted its position in shares of United States Steel Corporation (NYSE:X) by 128.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,811 shares of the basic materials company’s stock after buying an additional 43,712 shares during the period. Janney Montgomery Scott LLC’s holdings in United States Steel Corporation were worth $1,723,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in United States Steel Corporation by 1,971.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,315 shares of the basic materials company’s stock worth $112,000 after buying an additional 3,155 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of United States Steel Corporation during the first quarter worth about $209,000. Acrospire Investment Management LLC boosted its position in shares of United States Steel Corporation by 241.1% in the first quarter. Acrospire Investment Management LLC now owns 6,212 shares of the basic materials company’s stock worth $210,000 after buying an additional 4,391 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of United States Steel Corporation by 21.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,301 shares of the basic materials company’s stock worth $213,000 after buying an additional 1,112 shares during the last quarter. Finally, FNY Partners Fund LP boosted its position in shares of United States Steel Corporation by 272.2% in the first quarter. FNY Partners Fund LP now owns 6,700 shares of the basic materials company’s stock worth $226,000 after buying an additional 4,900 shares during the last quarter. Institutional investors own 69.00% of the company’s stock.

Shares of United States Steel Corporation (NYSE X) traded down 0.21% during mid-day trading on Friday, hitting $23.70. The company had a trading volume of 10,129,433 shares. The company has a 50-day moving average price of $23.42 and a 200-day moving average price of $27.50. United States Steel Corporation has a 1-year low of $15.72 and a 1-year high of $41.83. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 150.00 and a beta of 2.88. United States Steel Corporation also saw unusually large options trading on Wednesday. Investors acquired 59,061 call options on the stock. This is an increase of 114% compared to the typical daily volume of 27,624 call options.

United States Steel Corporation (NYSE:X) last announced its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.66. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.98 billion. United States Steel Corporation had a return on equity of 6.50% and a net margin of 0.24%. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.32) EPS. On average, equities analysts anticipate that United States Steel Corporation will post $1.76 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Wednesday, August 9th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.84%. The ex-dividend date is Monday, August 7th. United States Steel Corporation’s dividend payout ratio is currently 125.00%.

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A number of research analysts have issued reports on the company. Credit Suisse Group upgraded United States Steel Corporation from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $13.68 to $30.00 in a research note on Wednesday, May 24th. Deutsche Bank AG upgraded United States Steel Corporation from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Friday, June 23rd. BidaskClub upgraded United States Steel Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Cowen and Company set a $21.00 price objective on United States Steel Corporation and gave the company a “hold” rating in a research note on Thursday, June 15th. Finally, Barclays PLC lowered their price objective on United States Steel Corporation from $34.00 to $24.00 and set an “equal weight” rating for the company in a research note on Thursday, May 4th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $27.36.

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).

Institutional Ownership by Quarter for United States Steel Corporation (NYSE:X)

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