Russell Investments Group Ltd. Has $8.58 Million Position in United States Steel Corporation (X)

Russell Investments Group Ltd. boosted its position in shares of United States Steel Corporation (NYSE:X) by 581.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 387,609 shares of the basic materials company’s stock after buying an additional 330,744 shares during the period. Russell Investments Group Ltd. owned about 0.22% of United States Steel Corporation worth $8,582,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Deltec Asset Management LLC purchased a new position in United States Steel Corporation during the second quarter worth $903,000. TB Alternative Assets Ltd. bought a new stake in shares of United States Steel Corporation during the second quarter worth about $3,020,000. Skylands Capital LLC bought a new stake in shares of United States Steel Corporation during the second quarter worth about $684,000. Oakbrook Investments LLC raised its stake in shares of United States Steel Corporation by 7.6% in the second quarter. Oakbrook Investments LLC now owns 14,850 shares of the basic materials company’s stock worth $329,000 after buying an additional 1,050 shares in the last quarter. Finally, Longer Investments Inc. bought a new stake in shares of United States Steel Corporation during the second quarter worth about $2,066,000. Institutional investors and hedge funds own 69.00% of the company’s stock.

United States Steel Corporation (NYSE:X) traded down 1.91% during trading on Thursday, hitting $24.16. 7,329,324 shares of the stock traded hands. The company has a market cap of $4.23 billion, a P/E ratio of 152.91 and a beta of 2.88. United States Steel Corporation has a 12 month low of $15.72 and a 12 month high of $41.83. The company’s 50 day moving average price is $23.35 and its 200 day moving average price is $27.59. United States Steel Corporation also was the recipient of unusually large options trading on Wednesday. Traders acquired 59,061 call options on the stock. This represents an increase of approximately 114% compared to the typical volume of 27,624 call options.

United States Steel Corporation (NYSE:X) last posted its earnings results on Tuesday, July 25th. The basic materials company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.66. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.98 billion. United States Steel Corporation had a return on equity of 6.50% and a net margin of 0.24%. The firm’s revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.32) earnings per share. On average, equities research analysts anticipate that United States Steel Corporation will post $1.76 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 9th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.81%. The ex-dividend date is Monday, August 7th. United States Steel Corporation’s payout ratio is 125.00%.

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A number of analysts have recently issued reports on the stock. Barclays PLC reissued an “equal weight” rating and set a $25.00 target price (up from $24.00) on shares of United States Steel Corporation in a research note on Wednesday, August 9th. Longbow Research lowered shares of United States Steel Corporation from a “buy” rating to a “neutral” rating in a research note on Thursday, July 27th. J P Morgan Chase & Co reissued an “overweight” rating and set a $51.00 target price on shares of United States Steel Corporation in a research note on Thursday, July 27th. Cowen and Company boosted their target price on shares of United States Steel Corporation from $21.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, July 27th. Finally, Axiom Securities reissued a “sell” rating and set a $14.00 target price on shares of United States Steel Corporation in a research note on Wednesday, June 14th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $27.36.

About United States Steel Corporation

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

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