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Raymond James & Associates lowered its holdings in shares of United States Steel Co. (NYSE:X – Get Rating) by 32.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,587 shares of the basic materials company’s stock after selling 24,350 shares during the period. Raymond James & Associates’ holdings in United States Steel were worth $935,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the business. Accuvest Global Advisors bought a new stake in United States Steel during the 3rd quarter valued at $239,000. Louisiana State Employees Retirement System bought a new stake in United States Steel during the 3rd quarter valued at $1,143,000. Polianta Ltd raised its stake in United States Steel by 17.1% during the 3rd quarter. Polianta Ltd now owns 33,500 shares of the basic materials company’s stock valued at $607,000 after acquiring an additional 4,900 shares in the last quarter. Wedbush Securities Inc. raised its stake in United States Steel by 6.3% during the 3rd quarter. Wedbush Securities Inc. now owns 22,303 shares of the basic materials company’s stock valued at $404,000 after acquiring an additional 1,330 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in United States Steel by 0.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 90,404 shares of the basic materials company’s stock valued at $1,638,000 after acquiring an additional 566 shares in the last quarter. Institutional investors own 75.02% of the company’s stock.
United States Steel Stock Down 1.5 %
Shares of United States Steel stock opened at $28.83 on Friday. The stock’s fifty day moving average is $26.43 and its 200-day moving average is $23.23. The firm has a market capitalization of $6.75 billion, a PE ratio of 2.39 and a beta of 2.14. The company has a quick ratio of 1.37, a current ratio of 2.03 and a debt-to-equity ratio of 0.37. United States Steel Co. has a 12-month low of $16.41 and a 12-month high of $39.25.
United States Steel (NYSE:X – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The basic materials company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.03. United States Steel had a return on equity of 35.74% and a net margin of 15.30%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the company posted $5.36 earnings per share. United States Steel’s revenue for the quarter was down 12.8% compared to the same quarter last year. Equities analysts anticipate that United States Steel Co. will post 9.42 earnings per share for the current year.
Wall Street Analyst Weigh In
X has been the topic of a number of research reports. Morgan Stanley boosted their price objective on United States Steel from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, December 19th. Bank of America initiated coverage on United States Steel in a research note on Wednesday, January 4th. They issued an “underperform” rating on the stock. StockNews.com initiated coverage on United States Steel in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group dropped their price objective on United States Steel from $21.00 to $18.00 and set a “sell” rating on the stock in a research note on Thursday, October 6th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.14.
About United States Steel
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United States Steel Corp. engages in the manufacturing and selling of steel products. It operates through the following business segments: Flat-Rolled Products, Mini Mill, U.S. Steel Europe, and Tubular Products. The Flat-Rolled Products segment includes managing steel plants and production facilities that manufacture steel slabs, rounds, strip mill plates, sheets, tin mill, iron ore, and coke.
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