Quantbot Technologies LP Invests $1.46 Million in United States Steel Corporation (X) Stock

Quantbot Technologies LP purchased a new stake in shares of United States Steel Corporation (NYSE:X) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 65,947 shares of the basic materials company’s stock, valued at approximately $1,460,000.

A number of other hedge funds have also recently bought and sold shares of X. American Century Companies Inc. purchased a new stake in United States Steel Corporation during the first quarter valued at about $602,000. DekaBank Deutsche Girozentrale grew its position in United States Steel Corporation by 154.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 6,891 shares of the basic materials company’s stock valued at $233,000 after acquiring an additional 4,187 shares during the period. Comerica Bank grew its position in United States Steel Corporation by 5.4% during the first quarter. Comerica Bank now owns 137,267 shares of the basic materials company’s stock valued at $3,190,000 after acquiring an additional 7,080 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in United States Steel Corporation by 21.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,301 shares of the basic materials company’s stock valued at $213,000 after acquiring an additional 1,112 shares during the period. Finally, World Asset Management Inc grew its position in United States Steel Corporation by 2.6% during the first quarter. World Asset Management Inc now owns 13,485 shares of the basic materials company’s stock valued at $456,000 after acquiring an additional 342 shares during the period. 63.81% of the stock is owned by hedge funds and other institutional investors.

United States Steel Corporation (X) opened at 23.83 on Monday. The company has a 50 day moving average price of $25.03 and a 200 day moving average price of $25.65. The firm has a market cap of $4.17 billion, a PE ratio of 150.82 and a beta of 2.88. United States Steel Corporation has a 1-year low of $16.17 and a 1-year high of $41.83.

United States Steel Corporation (NYSE:X) last released its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.66. The business 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 company’s revenue was up 21.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.32) EPS. On average, equities research analysts forecast that United States Steel Corporation will post $1.76 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Wednesday, August 9th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Monday, August 7th. United States Steel Corporation’s dividend payout ratio is presently 125.00%.

A number of equities research analysts have issued reports on the company. Deutsche Bank AG raised United States Steel Corporation from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Friday, June 23rd. Standpoint Research downgraded United States Steel Corporation from a “buy” rating to a “reduce” rating in a research report on Tuesday, September 5th. BidaskClub raised United States Steel Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Cowen and Company set a $21.00 price target on United States Steel Corporation and gave the company a “hold” rating in a research report on Thursday, June 15th. Finally, Axiom Securities reissued a “sell” rating on shares of United States Steel Corporation in a research report on Thursday, July 13th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. United States Steel Corporation currently has an average rating of “Hold” and a consensus price target of $28.29.

In other United States Steel Corporation news, CFO Kevin Bradley purchased 36,762 shares of the stock in a transaction dated Friday, September 8th. The stock was acquired at an average cost of $27.23 per share, for a total transaction of $1,001,029.26. Following the acquisition, the chief financial officer now owns 30,415 shares in the company, valued at approximately $828,200.45. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eugene Sperling purchased 1,000 shares of the stock in a transaction dated Friday, September 15th. The shares were acquired at an average price of $25.16 per share, with a total value of $25,160.00. Following the completion of the acquisition, the director now owns 3,009 shares in the company, valued at approximately $75,706.44. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 64,597 shares of company stock valued at $1,764,452. Company insiders own 1.00% of the company’s stock.

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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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