Hsbc Holdings PLC Has $7.67 Million Position in United States Steel Co. (NYSE:X)

Hsbc Holdings PLC raised its stake in United States Steel Co. (NYSE:X) by 33.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 204,221 shares of the basic materials company’s stock after buying an additional 50,836 shares during the quarter. Hsbc Holdings PLC owned 0.09% of United States Steel worth $7,666,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. acquired a new position in United States Steel in the 4th quarter worth about $238,000. Intech Investment Management LLC bought a new position in United States Steel during the fourth quarter valued at approximately $489,000. Parallel Advisors LLC lifted its stake in United States Steel by 28.7% in the fourth quarter. Parallel Advisors LLC now owns 1,363 shares of the basic materials company’s stock valued at $66,000 after acquiring an additional 304 shares during the last quarter. United Services Automobile Association grew its position in United States Steel by 15.5% in the fourth quarter. United Services Automobile Association now owns 17,539 shares of the basic materials company’s stock worth $853,000 after acquiring an additional 2,353 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its stake in shares of United States Steel by 649.4% during the 4th quarter. Allianz Asset Management GmbH now owns 404,692 shares of the basic materials company’s stock worth $19,688,000 after purchasing an additional 350,692 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Wall Street Analyst Weigh In

X has been the subject of a number of analyst reports. Jefferies Financial Group reduced their price target on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. StockNews.com initiated coverage on United States Steel in a research report on Monday, August 19th. They set a “hold” rating for the company. Morgan Stanley lifted their price target on shares of United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. BNP Paribas upgraded shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective for the company in a research note on Friday, September 6th. Finally, Glj Research upgraded shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price on the stock in a research note on Monday, September 9th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.76.

United States Steel Stock Down 0.9 %

NYSE X opened at $38.59 on Tuesday. United States Steel Co. has a twelve month low of $26.92 and a twelve month high of $50.20. The stock has a market cap of $8.68 billion, a PE ratio of 11.32 and a beta of 1.88. The firm has a 50-day simple moving average of $38.09 and a 200 day simple moving average of $38.51. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.72.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.12. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.01 billion. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. United States Steel’s revenue for the quarter was down 17.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 EPS. On average, research analysts forecast that United States Steel Co. will post 2.15 EPS for the current year.

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, August 12th. United States Steel’s dividend payout ratio is 5.87%.

About United States Steel

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.