United States Steel Co. (NYSE:X – Get Rating) – KeyCorp boosted their FY2022 earnings estimates for shares of United States Steel in a research report issued to clients and investors on Tuesday, April 19th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings per share of $10.30 for the year, up from their previous forecast of $9.80.
United States Steel (NYSE:X – Get Rating) last issued its earnings results on Thursday, January 27th. The basic materials company reported $3.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.56 by ($0.92). United States Steel had a return on equity of 55.13% and a net margin of 20.86%. The business had revenue of $5.62 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period last year, the business earned ($0.27) EPS. The company’s revenue for the quarter was up 119.4% on a year-over-year basis.
Shares of United States Steel stock opened at $33.59 on Thursday. United States Steel has a 1 year low of $17.98 and a 1 year high of $39.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.86 and a quick ratio of 1.28. The firm has a fifty day moving average price of $32.73 and a 200 day moving average price of $26.62. The stock has a market cap of $8.75 billion, a PE ratio of 2.30 and a beta of 1.99.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 8th. Shareholders of record on Monday, February 7th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, February 4th. This represents a $0.20 annualized dividend and a yield of 0.60%. United States Steel’s payout ratio is 1.37%.
In other news, CEO David B. Burritt sold 43,530 shares of the business’s stock in a transaction that occurred on Tuesday, April 5th. The shares were sold at an average price of $38.00, for a total value of $1,654,140.00. Following the sale, the chief executive officer now directly owns 774,043 shares of the company’s stock, valued at approximately $29,413,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Manpreet Grewal sold 1,359 shares of the business’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $37.71, for a total transaction of $51,247.89. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $1,104,299.64. The disclosure for this sale can be found here. Insiders sold a total of 191,838 shares of company stock worth $6,688,783 over the last quarter. 1.20% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in X. Amundi Pioneer Asset Management Inc. grew its holdings in United States Steel by 1.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 159,943 shares of the basic materials company’s stock worth $3,117,000 after acquiring an additional 2,795 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in United States Steel by 1.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 163,207 shares of the basic materials company’s stock worth $3,586,000 after acquiring an additional 3,075 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in United States Steel by 194.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 73,138 shares of the basic materials company’s stock worth $1,607,000 after acquiring an additional 48,295 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in United States Steel during the 3rd quarter worth approximately $207,000. Finally, AE Wealth Management LLC grew its holdings in United States Steel by 22.2% during the 3rd quarter. AE Wealth Management LLC now owns 12,413 shares of the basic materials company’s stock worth $273,000 after acquiring an additional 2,256 shares in the last quarter. 68.19% of the stock is currently owned by hedge funds and other institutional investors.
About United States Steel (Get Rating)
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through four segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.
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