Dimensional Fund Advisors LP recently announced the acquisition of new stake in United States Steel Corp. (NYSE:X). The institutional investor has increased its shareholding in the Basic Materials company by 3.26% to 10.87 million shares with purchase of 0.34 million shares. This fresh investment now brings its stake to 4.87% valued currently at $390.16 million. In addition, Slate Path Capital LP raised its holdings by 1.25 million to 7.19 million shares.
With over 7.21 million United States Steel Corp. (X) shares trading Tuesday and a closing price of $48.40 on the day, the dollar volume was approximately $348.94 million. The shares have shown a positive half year performance of 96.51% and its price on 01/09/24 lost nearly -0.19%. Currently, there are 228.40M common shares owned by the public and among those 220.32M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for X have a consensus price objective of $36.50. The analysts have set the share’s price value over the next 12 months at a high of $40.00 and a low of $33.00. The average price target is -32.6% below its recent price level and a downside to the estimated low will see the stock lose -46.67% over that period. But a downside of -21.0% will see the stock hit the forecast high price target while median target price for the stock is $36.50.
Insiders at the company have transacted a total of 89 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 45 of these insider trades were purchases, accounting for 735,061 shares. Insider sales of the common stock occurred on 44 occasions, with total insider shares sold totaling 535,697 shares.
The top 3 mutual fund holders in United States Steel Corp. are iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. iShares Core S&P Mid Cap ETF owns 6.88 million shares of the company’s stock, all valued at over $246.91 million. The company bought an additional 1220.0 shares recently to bring their total holdings to about 3.08% of the shares outstanding. Vanguard Total Stock Market ETF bought 7263.0 shares to see its total holdings expand to 6.28 million shares valued at over $225.45 million and representing 2.82% of the shares outstanding. Vanguard Small Cap Index Fund bought 22030.0 shares to bring its total holdings to over 5.2 million shares at a value of $186.57 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.33% of the shares outstanding.
Shares of United States Steel Corp. (NYSE: X) opened at $48.39, down -$0.1 from a prior closing price of $48.49. However, the script later moved the day high at 48.70, down -0.19%. The company’s stock has a 5-day price change of 0.92% and 46.62% over the past three months. X shares are trading -0.51% year to date (YTD), with the 12-month market performance up to 79.93% higher. It has a 12-month low price of $20.40 and touched a high of $50.20 over the same period. X has an average intraday trading volume of 6.62 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.32%, 24.64%, and 63.49% respectively.
Institutional ownership of United States Steel Corp. (NYSE: X) shares accounts for 78.89% of the company’s 228.40M shares outstanding. Mutual fund holders own 35.55%, while other institutional holders and individual stakeholders account for 43.57% and 2.80% respectively.
It has a market capitalization of $10.80B and a beta (3y monthly) value of 2.05. The stock’s trailing 12-month PE ratio is 10.63, while the earnings-per-share (ttm) stands at $4.55. The company has a PEG of 1.33 and a Quick Ratio of 1.34 with the debt-to-equity ratio at 0.40. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.17% over the week and 1.64% over the month.
Analysts forecast that United States Steel Corp. (X) will achieve an EPS of $0.25 for the current quarter, $0.72 for the next quarter and $3.15 for 2024. The lowest estimate earnings-per-share for the quarter is $0.24 while analysts give the company a high EPS estimate of $0.26. Comparatively, EPS for the current quarter was $0.87 a year ago. Earnings per share for the fiscal year are expected to decrease by -57.21%, and -25.26% over the next financial year. EPS should shrink at an annualized rate of 8.00% over the next five years, compared to 33.11% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate United States Steel Corp. (X) as a “Moderate Buy” at a consensus score of 2.78. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 8 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
