Legal & General Group Plc decreased its stake in shares of United States Steel Corporation (NYSE:X) by 13.5% during the first quarter, Holdings Channel reports. The fund owned 452,618 shares of the basic materials company’s stock after selling 70,881 shares during the period. Legal & General Group Plc’s holdings in United States Steel Corporation were worth $15,288,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its position in United States Steel Corporation by 1,971.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,315 shares of the basic materials company’s stock valued at $112,000 after buying an additional 3,155 shares in the last quarter. Tyers Asset Management LLC purchased a new position in United States Steel Corporation during the fourth quarter valued at about $196,000. Dynamic Technology Lab Private Ltd purchased a new position in United States Steel Corporation during the first quarter valued at about $209,000. Acrospire Investment Management LLC raised its position in United States Steel Corporation by 241.1% in the first quarter. Acrospire Investment Management LLC now owns 6,212 shares of the basic materials company’s stock valued at $210,000 after buying an additional 4,391 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in United States Steel Corporation by 21.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,301 shares of the basic materials company’s stock valued at $213,000 after buying an additional 1,112 shares in the last quarter. 70.75% of the stock is currently owned by institutional investors.

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

Shares of United States Steel Corporation (X) traded up 0.82% during trading on Tuesday, hitting $20.97. 5,525,057 shares of the stock traded hands. The firm’s market cap is $3.66 billion. The company’s 50 day moving average is $20.69 and its 200 day moving average is $30.97. United States Steel Corporation has a 52-week low of $14.80 and a 52-week high of $41.83.

United States Steel Corporation (NYSE:X) last released its earnings results on Tuesday, April 25th. The basic materials company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by $1.18. United States Steel Corporation had a negative net margin of 2.63% and a negative return on equity of 3.48%. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter in the previous year, the firm posted ($2.15) earnings per share. United States Steel Corporation’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, equities research analysts predict that United States Steel Corporation will post $1.06 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Wednesday, May 10th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, May 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.96%. United States Steel Corporation’s payout ratio is -12.20%.

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A number of brokerages have recently weighed in on X. Credit Suisse Group reissued an “outperform” rating and set a $29.00 price objective on shares of United States Steel Corporation in a report on Tuesday. Axiom Securities reissued a “sell” rating and set a $14.00 price objective on shares of United States Steel Corporation in a report on Wednesday, June 14th. BMO Capital Markets reissued a “market perform” rating on shares of United States Steel Corporation in a report on Friday. Cowen and Company set a $21.00 price objective on shares of United States Steel Corporation and gave the company a “hold” rating in a report on Thursday, June 15th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $35.00 price objective on shares of United States Steel Corporation in a report on Monday, February 27th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. United States Steel Corporation presently has an average rating of “Hold” and a consensus target price of $29.44.

In other United States Steel Corporation news, Director Stephen J. Girsky acquired 2,500 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was bought at an average cost of $19.94 per share, for a total transaction of $49,850.00. Following the completion of the purchase, the director now directly owns 21,872 shares in the company, valued at $436,127.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul Anthony Mascarenas acquired 1,500 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were acquired at an average price of $19.31 per share, with a total value of $28,965.00. Following the completion of the purchase, the director now owns 12,377 shares of the company’s stock, valued at $238,999.87. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 14,000 shares of company stock valued at $278,415. 1.00% of the stock is owned by insiders.

United States Steel Corporation Company Profile

United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).

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