Vanguard Group Inc. Increases Stake in United States Steel Co.

Vanguard Group Inc. has raised its stake in United States Steel Co. (NYSE:X - Free Report) by 0.9% during the fourth quarter of the fiscal year, as revealed in the latest filing with the Securities and Exchange Commission (SEC). The investment firm now holds a total of 20,558,732 shares of the steel producer's stock after acquiring an additional 186,994 shares in this period. Vanguard’s holdings in United States Steel amount to approximately 9.13%, valued at around $698.79 million as of the end of the reporting period.

Other institutional investors have been active as well, adjusting their positions in United States Steel. For instance, Empirical Asset Management LLC entered a new stake valued at roughly $525,000 in the fourth quarter. Moreover, ARS Investment Partners LLC also established a new position worth about $15.51 million during the same timeframe. Notably, Rockefeller Capital Management L.P. significantly increased its holdings by 646.0% in the previous quarter, owning 506,694 shares, valued at approximately $17.90 million following an additional purchase of 438,771 shares. Additionally, Geode Capital Management LLC raised its position by 1.0%, resulting in ownership of 3,839,684 shares worth about $135.69 million after buying another 37,528 shares. Lastly, Heck Capital Advisors LLC acquired a new stake valued at approximately $554,000. Overall, institutional investors now control about 81.92% of United States Steel's stock.

Analyst Ratings Updates

Recent analyses from various research firms have also focused on United States Steel. Morgan Stanley raised its price target from $39.00 to $43.00 while maintaining an 'equal weight' rating on the stock, as noted in a research note dated March 7. Similarly, BMO Capital Markets has increased its price target from $40.00 to $45.00 and affirmed an 'outperform' rating in a note on March 21. On another front, Bank of America initiated coverage on United States Steel with a 'neutral' rating and a price objective of $35.00, while JPMorgan Chase & Co. increased its target price from $40.00 to $43.00, assigning an 'overweight' rating. Jefferies Financial Group, on the other hand, reduced its price target from $45.00 to $40.00, while still issuing a 'buy' rating. Currently, three equity research analysts have rated the stock as a hold, while six others have given it a buy rating, leading to an average analyst rating of 'Moderate Buy' with an average target price of $41.32.

Stock Performance of United States Steel

The stock for United States Steel opened at $43.00 on the most recent trading day. Over the past year, shares have fluctuated markedly, with a low of $26.92 and a high of $44.87. Financially, the company presents a debt-to-equity ratio of 0.36, a current ratio of 1.55, and a quick ratio of 0.91. The market capitalization sits at approximately $9.73 billion. Furthermore, the stock's price-to-earnings (P/E) ratio stands at 28.86, with a P/E growth (P/E/G) ratio of 1.53 and a beta of 1.86. For additional context, United States Steel maintains a 50-day simple moving average of $38.52 and a 200-day average of $37.21.

Quarterly Earnings Report

In its last earnings announcement on January 30, United States Steel reported an earnings per share (EPS) of -$0.18, failing to meet analysts' expectations of $0.20, marking a significant miss of $0.38. The company experienced a net margin of 2.46% and a return on equity of 4.27%, with projections for an EPS of 1.43 in the current fiscal year from analysts.

Dividend Announcement

Additionally, United States Steel announced its latest quarterly dividend, which was distributed on March 12. Shareholders who held shares on February 10 received a dividend of $0.05 per share, translating to an annualized dividend yield of 0.47%, amounting to a total dividend payout ratio of 13.42%.

About United States Steel

United States Steel Corporation operates as a prominent producer and seller of flat-rolled and tubular steel products, primarily servicing the markets in North America and Europe. The company conducts its operations through several segments, including North American Flat-Rolled (Flat-Rolled), Mini Mill, U.S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment focuses on producing slabs, strip mill plates, sheets, and tin mill products, along with iron ore and coke.

Vanguard, Investments, Steel