United States Steel Co. (NYSE:X) Shares Bought by Discovery Capital Management LLC CT

Discovery Capital Management LLC CT raised its position in United States Steel Co. (NYSE:X - Free Report) by 488.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 556,800 shares of the basic materials company's stock after purchasing an additional 462,100 shares during the period. United States Steel comprises about 1.3% of Discovery Capital Management LLC CT's investment portfolio, making the stock its 25th largest position. Discovery Capital Management LLC CT owned about 0.25% of United States Steel worth $18,926,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in United States Steel in the fourth quarter valued at $130,731,000. Holocene Advisors LP purchased a new position in shares of United States Steel in the 3rd quarter worth about $51,620,000. Turiya Advisors Asia Ltd acquired a new position in shares of United States Steel in the 4th quarter valued at about $19,384,000. E. Ohman J or Asset Management AB purchased a new stake in shares of United States Steel during the 4th quarter worth about $17,907,000. Finally, ARS Investment Partners LLC acquired a new stake in United States Steel during the 4th quarter worth approximately $15,510,000. 81.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

X has been the subject of several analyst reports. BMO Capital Markets restated a "market perform" rating and issued a $45.00 target price on shares of United States Steel in a research note on Monday. JPMorgan Chase & Co. upped their price objective on shares of United States Steel from $40.00 to $43.00 and gave the company an "overweight" rating in a research report on Tuesday, March 11th. Jefferies Financial Group dropped their target price on United States Steel from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Morgan Stanley raised their price objective on United States Steel from $39.00 to $43.00 and gave the company an "equal weight" rating in a research note on Friday, March 7th. Finally, Bank of America initiated coverage on United States Steel in a report on Monday, January 6th. They set a "neutral" rating and a $35.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, United States Steel currently has an average rating of "Moderate Buy" and a consensus price target of $41.32.

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United States Steel Stock Performance

X stock traded down $0.66 during trading on Friday, reaching $38.30. 9,226,334 shares of the company's stock were exchanged, compared to its average volume of 5,165,870. The firm has a market cap of $8.67 billion, a PE ratio of 25.70, a P/E/G ratio of 1.53 and a beta of 1.86. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. United States Steel Co. has a 1-year low of $26.92 and a 1-year high of $44.87. The company's fifty day moving average price is $38.91 and its 200-day moving average price is $37.35.

United States Steel (NYSE:X - Get Free Report) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. On average, research analysts expect that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.52%. United States Steel's dividend payout ratio (DPR) is 13.42%.

United States Steel Company Profile

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.