Allianz Asset Management GmbH Acquires 80,093 Shares of United States Steel Co. (X)

Allianz Asset Management GmbH raised its holdings in shares of United States Steel Co. (NYSE:X) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,219,950 shares of the basic materials company’s stock after acquiring an additional 80,093 shares during the period. Allianz Asset Management GmbH’s holdings in United States Steel were worth $37,183,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. boosted its stake in shares of United States Steel by 4.3% during the third quarter. BlackRock Inc. now owns 15,829,392 shares of the basic materials company’s stock valued at $482,480,000 after purchasing an additional 654,678 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of United States Steel by 4.8% during the third quarter. Dimensional Fund Advisors LP now owns 4,921,315 shares of the basic materials company’s stock valued at $149,998,000 after purchasing an additional 223,665 shares during the period. Pelham Capital Ltd. boosted its stake in shares of United States Steel by 120.0% during the third quarter. Pelham Capital Ltd. now owns 3,190,105 shares of the basic materials company’s stock valued at $97,234,000 after purchasing an additional 1,740,105 shares during the period. Luminus Management LLC boosted its stake in shares of United States Steel by 88.9% during the second quarter. Luminus Management LLC now owns 2,491,501 shares of the basic materials company’s stock valued at $86,580,000 after purchasing an additional 1,172,525 shares during the period. Finally, Hodges Capital Management Inc. boosted its stake in shares of United States Steel by 31.4% during the third quarter. Hodges Capital Management Inc. now owns 1,373,722 shares of the basic materials company’s stock valued at $41,871,000 after purchasing an additional 328,492 shares during the period. Institutional investors and hedge funds own 68.67% of the company’s stock.

Shares of United States Steel stock opened at $23.06 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 0.52 and a beta of 2.92. United States Steel Co. has a 12 month low of $21.96 and a 12 month high of $47.64.

United States Steel (NYSE:X) last announced its quarterly earnings data on Friday, November 2nd. The basic materials company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.73 by $0.06. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.67 billion. United States Steel had a return on equity of 21.69% and a net margin of 5.01%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 earnings per share. Sell-side analysts anticipate that United States Steel Co. will post 5.48 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.87%. The ex-dividend date is Thursday, November 8th. United States Steel’s dividend payout ratio is currently 10.31%.

United States Steel declared that its Board of Directors has approved a stock repurchase plan on Thursday, November 1st that permits the company to buyback $300.00 million in shares. This buyback authorization permits the basic materials company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

A number of analysts recently commented on the company. Credit Suisse Group dropped their price target on United States Steel from $55.00 to $48.00 in a research note on Thursday, August 23rd. TD Securities reaffirmed an “average” rating on shares of United States Steel in a research note on Monday, November 12th. Seaport Global Securities assumed coverage on United States Steel in a research note on Thursday, October 11th. They issued a “buy” rating and a $35.00 price target for the company. Citigroup dropped their price target on United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, November 6th. Finally, Longbow Research dropped their price target on United States Steel from $49.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, November 27th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $39.19.

In other news, CFO Kevin Bradley acquired 10,000 shares of the stock in a transaction on Wednesday, November 7th. The stock was acquired at an average price of $29.53 per share, with a total value of $295,300.00. Following the completion of the transaction, the chief financial officer now owns 102,785 shares of the company’s stock, valued at approximately $3,035,241.05. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP James E. Bruno sold 12,000 shares of the firm’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $25.75, for a total value of $309,000.00. Following the transaction, the vice president now directly owns 54,137 shares of the company’s stock, valued at approximately $1,394,027.75. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.

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United States Steel Company 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: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.

See Also: Cost of Equity For A Business, Investors

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

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