United States Steel Co. (X) Shares Bought by The Manufacturers Life Insurance Company
The Manufacturers Life Insurance Company boosted its position in shares of United States Steel Co. (NYSE:X) by 12.6% during the 4th quarter, HoldingsChannel reports. The firm owned 288,680 shares of the basic materials company’s stock after buying an additional 32,317 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in United States Steel were worth $10,159,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. US Bancorp DE grew its holdings in shares of United States Steel by 81.2% during the 4th quarter. US Bancorp DE now owns 4,563 shares of the basic materials company’s stock valued at $160,000 after acquiring an additional 2,045 shares in the last quarter. NJ State Employees Deferred Compensation Plan purchased a new position in shares of United States Steel during the 3rd quarter valued at $205,000. CIBC Asset Management Inc purchased a new position in shares of United States Steel during the 4th quarter valued at $209,000. Koshinski Asset Management Inc. purchased a new position in shares of United States Steel during the 4th quarter valued at $218,000. Finally, Cigna Investments Inc. New purchased a new position in shares of United States Steel during the 4th quarter valued at $220,000. Hedge funds and other institutional investors own 66.01% of the company’s stock.
In other United States Steel news, VP Sara A. Greenstein sold 2,613 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $45.33, for a total transaction of $118,447.29. Following the completion of the transaction, the vice president now owns 51,250 shares of the company’s stock, valued at approximately $2,323,162.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Colleen M. Darragh sold 1,060 shares of the business’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $37.85, for a total transaction of $40,121.00. Following the transaction, the vice president now directly owns 18,076 shares of the company’s stock, valued at approximately $684,176.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 151,873 shares of company stock valued at $5,948,986. Company insiders own 1.00% of the company’s stock.
United States Steel (NYSE:X) last released its quarterly earnings data on Wednesday, January 31st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.09. United States Steel had a net margin of 3.16% and a return on equity of 12.56%. The business had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the business earned $0.27 EPS. United States Steel’s quarterly revenue was up 18.2% compared to the same quarter last year. research analysts forecast that United States Steel Co. will post 3.98 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Thursday, February 8th. United States Steel’s dividend payout ratio is 11.63%.
X has been the topic of several research analyst reports. ValuEngine upgraded shares of United States Steel from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Longbow Research upgraded shares of United States Steel from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Argus restated a “buy” rating and set a $52.00 price target (up from $41.00) on shares of United States Steel in a report on Wednesday, February 21st. Bank of America set a $46.00 price target on shares of United States Steel and gave the company a “buy” rating in a report on Monday, January 8th. Finally, Citigroup upgraded shares of United States Steel from a “sell” rating to a “neutral” rating in a report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $35.53.
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About United States Steel
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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