Alps Advisors Inc. Takes $193,000 Position in United States Steel Co. (NYSE:X)

Alps Advisors Inc. acquired a new stake in shares of United States Steel Co. (NYSE:XGet Rating) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,768 shares of the basic materials company’s stock, valued at approximately $193,000.

A number of other institutional investors and hedge funds also recently modified their holdings of X. Bornite Capital Management LP raised its stake in United States Steel by 300.0% during the 1st quarter. Bornite Capital Management LP now owns 400,000 shares of the basic materials company’s stock valued at $15,096,000 after purchasing an additional 300,000 shares during the period. Venture Visionary Partners LLC increased its stake in shares of United States Steel by 6.4% in the first quarter. Venture Visionary Partners LLC now owns 14,316 shares of the basic materials company’s stock worth $540,000 after acquiring an additional 867 shares during the last quarter. Arizona State Retirement System increased its stake in shares of United States Steel by 0.5% in the first quarter. Arizona State Retirement System now owns 73,048 shares of the basic materials company’s stock worth $2,757,000 after acquiring an additional 344 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of United States Steel by 12.5% in the first quarter. Envestnet Asset Management Inc. now owns 37,694 shares of the basic materials company’s stock worth $1,423,000 after acquiring an additional 4,202 shares during the last quarter. Finally, Banque Pictet & Cie SA increased its stake in shares of United States Steel by 27.4% in the first quarter. Banque Pictet & Cie SA now owns 16,688 shares of the basic materials company’s stock worth $630,000 after acquiring an additional 3,593 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

United States Steel Stock Up 0.6 %

Shares of X opened at $26.01 on Thursday. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 2.16 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. The company has a 50-day moving average price of $20.81 and a two-hundred day moving average price of $21.75.

United States Steel (NYSE:XGet Rating) last announced its quarterly earnings results on Friday, October 28th. The basic materials company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.02. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $4.99 billion. United States Steel had a net margin of 15.30% and a return on equity of 35.74%. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $5.36 earnings per share. Equities analysts predict that United States Steel Co. will post 9.29 EPS for the current fiscal year.

United States Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Monday, November 7th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, November 4th. United States Steel’s payout ratio is 1.66%.

United States Steel announced that its Board of Directors has authorized a share repurchase plan on Thursday, July 28th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the basic materials company to buy up to 8.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

X has been the topic of several analyst reports. Morgan Stanley lowered their target price on shares of United States Steel from $21.50 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 2nd. StockNews.com initiated coverage on shares of United States Steel in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Citigroup increased their target price on shares of United States Steel to $27.00 in a research report on Tuesday, September 13th. Credit Suisse Group lowered their target price on shares of United States Steel from $44.00 to $37.00 and set an “outperform” rating on the stock in a research report on Friday, September 16th. Finally, The Goldman Sachs Group decreased their price target on shares of United States Steel from $21.00 to $18.00 and set a “sell” rating for the company in a report on Thursday, October 6th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, United States Steel currently has a consensus rating of “Hold” and a consensus price target of $24.88.

United States Steel Company Profile

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United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through four segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, 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 iron ore and coke.

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

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