Commonwealth Bank of Australia Increases Position in United States Steel Co. (X)

Commonwealth Bank of Australia boosted its position in shares of United States Steel Co. (NYSE:X) by 50.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,800 shares of the basic materials company’s stock after buying an additional 25,400 shares during the quarter. Commonwealth Bank of Australia’s holdings in United States Steel were worth $1,377,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Morgan Stanley lifted its stake in United States Steel by 8.4% in the 3rd quarter. Morgan Stanley now owns 1,909,374 shares of the basic materials company’s stock worth $58,195,000 after acquiring an additional 147,262 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in shares of United States Steel during the 3rd quarter worth about $352,000. Victory Capital Management Inc. purchased a new stake in shares of United States Steel during the 3rd quarter worth about $1,886,000. Pitcairn Co. raised its stake in shares of United States Steel by 8.5% during the 4th quarter. Pitcairn Co. now owns 14,327 shares of the basic materials company’s stock worth $262,000 after purchasing an additional 1,126 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of United States Steel by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 229,840 shares of the basic materials company’s stock worth $4,192,000 after purchasing an additional 813 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE X opened at $19.78 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.86 and a debt-to-equity ratio of 0.55. The stock has a market cap of $3.53 billion, a PE ratio of 3.69, a P/E/G ratio of 1.07 and a beta of 2.87. United States Steel Co. has a 52 week low of $17.08 and a 52 week high of $40.54.

United States Steel (NYSE:X) last issued its quarterly earnings data on Wednesday, January 30th. The basic materials company reported $1.82 EPS for the quarter, missing the Zacks’ consensus estimate of $1.83 by ($0.01). The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.77 billion. United States Steel had a net margin of 7.86% and a return on equity of 25.39%. The business’s revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 EPS. Research analysts expect that United States Steel Co. will post 2.38 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Wednesday, February 13th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Tuesday, February 12th. United States Steel’s dividend payout ratio (DPR) is currently 3.73%.

In other United States Steel news, CFO Kevin Bradley bought 10,000 shares of the stock in a transaction on Friday, February 15th. The shares were purchased at an average price of $22.79 per share, with a total value of $227,900.00. Following the acquisition, the chief financial officer now directly owns 122,830 shares of the company’s stock, valued at approximately $2,799,295.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.01% of the company’s stock.

A number of equities research analysts have recently weighed in on X shares. Longbow Research cut 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. UBS Group raised United States Steel from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $28.00 to $22.00 in a report on Monday, December 10th. Jefferies Financial Group lowered United States Steel from a “buy” rating to a “hold” rating and set a $21.15 price objective on the stock. in a report on Tuesday, January 22nd. Argus lowered their price objective on United States Steel from $30.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, February 1st. They noted that the move was a valuation call. Finally, Citigroup lowered United States Steel from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $40.00 to $23.00 in a report on Wednesday, January 9th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. United States Steel presently has a consensus rating of “Hold” and a consensus price target of $29.27.

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

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