Point72 Asset Management L.P. Acquires New Position in United States Steel Co. (NYSE:X)

Point72 Asset Management L.P. acquired a new position in shares of United States Steel Co. (NYSE:X - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 214,844 shares of the basic materials company's stock, valued at approximately $7,590,000. Point72 Asset Management L.P. owned approximately 0.10% of United States Steel as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Rothschild Investment LLC acquired a new stake in United States Steel in the second quarter valued at $26,000. Palouse Capital Management Inc. acquired a new stake in shares of United States Steel during the 3rd quarter worth about $35,000. Gladius Capital Management LP purchased a new stake in shares of United States Steel during the 3rd quarter worth approximately $39,000. Blue Trust Inc. boosted its holdings in shares of United States Steel by 339.0% in the 2nd quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company's stock valued at $41,000 after buying an additional 773 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of United States Steel in the 2nd quarter valued at $46,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

United States Steel Stock Performance

Shares of NYSE:X traded down $0.40 during trading on Friday, reaching $38.45. The company had a trading volume of 4,064,268 shares, compared to its average volume of 5,509,078. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week high of $50.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.67 and a quick ratio of 1.08. The stock's fifty day moving average price is $38.27 and its 200 day moving average price is $38.00. The firm has a market capitalization of $8.66 billion, a price-to-earnings ratio of 25.30 and a beta of 1.83.

United States Steel (NYSE:X - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.15. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The company had revenue of $3.85 billion for the quarter, compared to analysts' expectations of $3.77 billion. During the same period in the previous year, the company posted $1.36 EPS. United States Steel's revenue was down 13.0% compared to the same quarter last year. As a group, equities research analysts predict that United States Steel Co. will post 2.19 EPS for the current year.

United States Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 11th will be given a $0.05 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.52%. United States Steel's payout ratio is currently 13.16%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on X. BMO Capital Markets reduced their price target on shares of United States Steel from $45.00 to $43.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. StockNews.com started coverage on United States Steel in a research report on Monday, August 19th. They issued a "hold" rating for the company. JPMorgan Chase & Co. raised United States Steel from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $40.00 to $42.00 in a research report on Monday, September 9th. Morgan Stanley increased their price objective on United States Steel from $48.00 to $49.00 and gave the company an "overweight" rating in a report on Thursday, August 15th. Finally, Glj Research raised 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 report on Monday, September 9th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $42.80.

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.