Blue Trust Inc. Boosts Stake in United States Steel Co. (NYSE:X)

Blue Trust Inc. lifted its holdings in shares of United States Steel Co. (NYSE:X) by 339.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,001 shares of the basic materials company’s stock after acquiring an additional 773 shares during the quarter. Blue Trust Inc.’s holdings in United States Steel were worth $41,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. SummerHaven Investment Management LLC grew its position in United States Steel by 0.9% in the 4th quarter. SummerHaven Investment Management LLC now owns 29,928 shares of the basic materials company’s stock worth $1,456,000 after purchasing an additional 278 shares during the period. Parallel Advisors LLC grew its holdings in shares of United States Steel by 28.7% in the fourth quarter. Parallel Advisors LLC now owns 1,363 shares of the basic materials company’s stock worth $66,000 after acquiring an additional 304 shares during the period. Quadrant Capital Group LLC increased its position in United States Steel by 18.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,004 shares of the basic materials company’s stock valued at $97,000 after acquiring an additional 313 shares during the last quarter. Diversified Trust Co lifted its holdings in United States Steel by 4.0% in the first quarter. Diversified Trust Co now owns 8,373 shares of the basic materials company’s stock valued at $341,000 after acquiring an additional 324 shares during the period. Finally, Yousif Capital Management LLC boosted its position in United States Steel by 0.3% in the fourth quarter. Yousif Capital Management LLC now owns 112,000 shares of the basic materials company’s stock worth $5,449,000 after purchasing an additional 372 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on X. Jefferies Financial Group initiated coverage on shares of United States Steel in a research report on Monday, May 20th. They set a “buy” rating and a $45.00 price target for the company. BMO Capital Markets upgraded shares of United States Steel from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $43.00 to $45.00 in a research report on Wednesday, June 26th. StockNews.com started coverage on shares of United States Steel in a research report on Monday, August 19th. They set a “hold” rating for the company. JPMorgan Chase & Co. reduced their price objective on United States Steel from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. Finally, Morgan Stanley lifted their target price on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, United States Steel currently has a consensus rating of “Hold” and a consensus price target of $40.13.

United States Steel Trading Down 2.6 %

Shares of X stock opened at $37.15 on Friday. The stock has a fifty day simple moving average of $39.03 and a two-hundred day simple moving average of $40.23. United States Steel Co. has a 52-week low of $29.84 and a 52-week high of $50.20. The firm has a market capitalization of $8.36 billion, a PE ratio of 10.89 and a beta of 1.93. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.72.

United States Steel (NYSE:X) last issued its earnings results on Thursday, August 1st. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.12. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the company earned $1.92 EPS. The firm’s quarterly revenue was down 17.8% on a year-over-year basis. On average, analysts predict that United States Steel Co. will post 2.38 EPS for the current fiscal year.

United States Steel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Monday, August 12th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. United States Steel’s dividend payout ratio is 5.87%.

About United States Steel

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.