Schwab Charles Investment Management Inc. Boosts Position in United States Steel Corporation (X)

Schwab Charles Investment Management Inc. boosted its position in United States Steel Corporation (NYSE:X) by 14.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 682,044 shares of the basic materials company’s stock after buying an additional 84,972 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.39% of United States Steel Corporation worth $23,060,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the company. Northwestern Mutual Investment Management Company LLC raised its position in United States Steel Corporation by 1.1% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 30,036 shares of the basic materials company’s stock valued at $1,016,000 after buying an additional 315 shares in the last quarter. World Asset Management Inc increased its stake in United States Steel Corporation by 2.6% in the first quarter. World Asset Management Inc now owns 13,485 shares of the basic materials company’s stock valued at $456,000 after buying an additional 342 shares in the last quarter. Texas Permanent School Fund increased its stake in United States Steel Corporation by 0.3% in the first quarter. Texas Permanent School Fund now owns 126,189 shares of the basic materials company’s stock valued at $4,266,000 after buying an additional 407 shares in the last quarter. Arizona State Retirement System increased its stake in United States Steel Corporation by 0.9% in the first quarter. Arizona State Retirement System now owns 72,500 shares of the basic materials company’s stock valued at $2,451,000 after buying an additional 645 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in United States Steel Corporation by 0.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 225,738 shares of the basic materials company’s stock valued at $7,632,000 after buying an additional 707 shares in the last quarter. 67.18% of the stock is owned by hedge funds and other institutional investors.

United States Steel Corporation (NYSE X) traded down 8.08% during trading on Friday, hitting $22.98. 34,741,877 shares of the stock traded hands. The firm has a 50-day moving average price of $22.49 and a 200 day moving average price of $28.52. The firm has a market cap of $4.02 billion, a PE ratio of 145.44 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.

United States Steel Corporation (NYSE:X) last issued its earnings results on Tuesday, July 25th. The basic materials company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.66. United States Steel Corporation had a net margin of 0.24% and a return on equity of 6.50%. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the firm earned ($0.32) earnings per share. United States Steel Corporation’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities analysts forecast that United States Steel Corporation will post $1.46 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Wednesday, August 9th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Monday, August 7th. United States Steel Corporation’s dividend payout ratio (DPR) is presently 125.00%.

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A number of equities research analysts recently issued reports on the company. Credit Suisse Group upgraded United States Steel Corporation from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $13.68 to $30.00 in a research report on Wednesday, May 24th. Deutsche Bank AG raised United States Steel Corporation from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Friday, June 23rd. BidaskClub raised United States Steel Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Cowen and Company set a $21.00 target price on United States Steel Corporation and gave the company a “hold” rating in a research note on Thursday, June 15th. Finally, Barclays PLC reduced their target price on United States Steel Corporation from $34.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 4th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. United States Steel Corporation presently has an average rating of “Hold” and an average price target of $27.31.

In related news, Director Paul Anthony Mascarenas purchased 1,500 shares of United States Steel Corporation stock in a transaction dated Thursday, May 18th. The shares were acquired at an average cost of $19.31 per share, with a total value of $28,965.00. Following the purchase, the director now owns 12,377 shares of the company’s stock, valued at $238,999.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David Sutherland purchased 10,000 shares of United States Steel Corporation stock in a transaction dated Friday, May 12th. The stock was bought at an average cost of $19.96 per share, for a total transaction of $199,600.00. Following the completion of the purchase, the director now directly owns 98,919 shares in the company, valued at approximately $1,974,423.24. The disclosure for this purchase can be found here. Insiders have acquired 14,000 shares of company stock worth $278,415 over the last ninety days. 1.00% of the stock is owned by insiders.

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).

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

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