Forest Avenue Capital Management LP Takes $50.80 Million Position in United States Steel Co. (NYSE:X)

Forest Avenue Capital Management LP purchased a new position in shares of United States Steel Co. (NYSE:X - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,494,400 shares of the basic materials company's stock, valued at approximately $50,795,000. United States Steel accounts for about 4.6% of Forest Avenue Capital Management LP's portfolio, making the stock its 10th largest holding. Forest Avenue Capital Management LP owned 0.66% of United States Steel as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in X. Vanguard Group Inc. increased its holdings in United States Steel by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 20,558,732 shares of the basic materials company's stock worth $698,791,000 after purchasing an additional 186,994 shares during the period. Donald Smith & CO. Inc. raised its stake in shares of United States Steel by 1.4% during the 4th quarter. Donald Smith & CO. Inc. now owns 4,788,075 shares of the basic materials company's stock worth $162,747,000 after buying an additional 68,230 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of United States Steel by 3.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,773,225 shares of the basic materials company's stock valued at $162,242,000 after purchasing an additional 174,394 shares during the period. Geode Capital Management LLC boosted its position in United States Steel by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 3,862,064 shares of the basic materials company's stock worth $131,313,000 after purchasing an additional 22,380 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of United States Steel in the fourth quarter valued at approximately $130,731,000. Hedge funds and other institutional investors own 81.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on X. JPMorgan Chase & Co. restated a "neutral" rating and issued a $38.00 price target (down previously from $43.00) on shares of United States Steel in a report on Wednesday. BMO Capital Markets restated a "market perform" rating and issued a $45.00 target price on shares of United States Steel in a report on Monday, March 31st. Jefferies Financial Group decreased their target price on United States Steel from $45.00 to $40.00 and set a "buy" rating for the company in a report on Monday, January 6th. Morgan Stanley upped their target price on United States Steel from $39.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Friday, March 7th. Finally, Bank of America initiated coverage on United States Steel in a research report on Monday, January 6th. They set a "neutral" rating and a $35.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, United States Steel has a consensus rating of "Hold" and a consensus target price of $39.94.

United States Steel Stock Performance

Shares of NYSE:X traded down $0.28 during trading on Friday, hitting $41.54. 3,872,737 shares of the company traded hands, compared to its average volume of 5,433,834. The business's fifty day moving average is $40.10 and its 200-day moving average is $37.78. The stock has a market capitalization of $9.40 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 1.53 and a beta of 1.79. 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 one year low of $26.92 and a one year high of $46.18.

United States Steel (NYSE:X - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.18) 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%. As a group, equities analysts predict that United States Steel Co. will post 1.43 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were given a dividend of $0.05 per share. The ex-dividend date was Monday, February 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.48%. United States Steel's dividend payout ratio is presently 13.42%.

United States Steel 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.