The United States Steel Co (NYSE:X), as the Wall Street Journal reported on Friday, February 3, announced that it would start paying a quarterly dividend starting in the first quarter of this year.
The basic materials company will distribute a dividend of 0.05 cents per share on March 14 to shareholders who had shared on record as of February 13.
The record date for shareholders was February 13. February 13 has been designated as the date of record for shareholders.
This translates to a yield of 0.67 percent and an annual dividend payment of 0.20 dollars.
This dividend will not be distributed until after the ex-dividend date, which is this coming Friday, February 10; however, the ex-dividend date has already passed.
The relatively high dividend payout ratio of 10.8% at United States Steel ensures that the company’s earnings will adequately protect the dividend in the foreseeable future.
It is anticipated that United States Steel will have a payout ratio of 15.7%, which means that the company will be able to meet its annual dividend payment of $0.20 if it achieves the revenue level of $1.27 per share analysts have projected for it.
The price of United States Steel increased by $0.82 throughout the trading session at noon on Friday, and it reached $30.05 as a result.
The total number of company stock shares that changed hands was 12,137,708, significantly higher than the daily volume of 6,084,388 shares typically seen.
The debt-to-equity ratio comes in at 0.37, the quick ratio comes in at 1.37, the current ratio comes in at 2.03, and the quick ratio comes in at 1.37. Over the last fifty days, the stock price has reached a moving average of $26.63; over the last 200 days, that price has averaged $23.46.
The corporation hit an all-time low of $16.41 during the previous year while reaching an all-time high of $39.25 during that same period.
Because the company’s stock has a price-to-earnings ratio of 2.58 and a beta value of 2.16, the company has a market value of $7.04 billion due to these two metrics.
United States Steel (NYSE:X) disseminated the findings of its most recent quarterly financial report on February 3.
The company that produces fundamental components reported earnings per share (EPS) of $0.87 for the quarter, which is $0.27 higher than the average estimate of $0.60.
The company also expects its quarterly revenue to align with the average.
The revenue for the quarter was $4.34 billion, which is significantly higher than the analysts’ projections of $4.01 billion in revenue for the quarter.
The net margin of United States Steel was 15.30%, and the company’s return on equity was 35.74%, indicating that the company had a successful performance.
The company’s revenue during the quarter dropped by 22.8% when measured against what it brought in during the same period the year before. Compared to the previous year’s results for the same period, the company generated earnings of $3.64 per share. Sell-side analysts predict that United States Steel will finish its fiscal year with profits per share of $9.54, which would align the company with market expectations.
Recently, several different hedge funds have changed the percentages of ownership in the company they are currently holding. First Trust Advisors LP saw an increase in its holdings in United States Steel of 155.8 percent during the first three months of 2018. First Trust Advisors LP now has a total of 3,309,824 shares of the basic materials company’s stock following the purchase of an additional 2,015,980 shares during the most recent quarter.
These shares have a total value of $124,913,000 because First Trust Advisors LP has a total of 3,309,824 of the company’s shares.
During the third quarter, Thompson, Siegel & Walmsley LLC accomplished an increase of 6.6% in the proportion of United States Steel stock that it possessed.
Thompson, Siegel & Walmsley LLC now holds a total of 2,618,678 shares of the company’s stock, which has a value of $47,450,000 following the purchase of an additional 162,634 shares of the basic materials company’s stock during the most recent quarter.
The firm purchased these shares.
During the second quarter, Legal & General Group Plc achieved a level of total ownership in United States Steel that was 29.6% greater than it had been in the previous period.
Legal & General Group Plc has a total of 644,466 shares of the stock of the basic materials business after purchasing an additional 147,015 shares during the most recent quarter.
This brings the company’s total number of shares to 644,466.
The current value of these shares, when traded on the market, is $11,542,000.
In the first three months of 2018, Prudential Financial INC increased the proportion of United States Steel holdings it had in its portfolio by one hundred and zero percent.
Prudential Financial INC increased the total number of shares it owns to 551,403 during the most recent quarter by purchasing an additional 275,688 shares of the basic materials company’s stock.
This brings the total value of the company’s ownership stake to $20,810,000.
Last but not least, during the second quarter, UBS Asset Management Americas INC increased the proportion of United States Steel stock owned by 1.7%.
This certainly should not be considered the least important development. UBS Asset Management Americas INC now holds 480,285 shares of the basic materials company’s stock, which has a value of $8,602,000 after purchasing an additional 7,880 shares during the most recent quarter.
This brings the total number of shares owned by the company to 480,285 shares.
Institutions hold ownership of the stock 75.02% of the time, making up the remaining 25.08%.
Recently, many investors who are knowledgeable about stocks have been focusing their attention on X stock.
According to a report issued that day, Bank of America started providing coverage of United States Steel on January 4.
They gave the business an “underperform” rating for its prospects. Goldman Sachs Group lowered their price target on United States Steel from $21.00 to $18.00 and assigned the stock a “sell” rating in a research note published on Thursday, October 6.
The research note was issued.
It was a report about United States Steel.