Monaco Asset Management SAM Buys Shares of 23,000 United States Steel Co. (NYSE:X)

Monaco Asset Management SAM purchased a new position in shares of United States Steel Co. (NYSE:X - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,000 shares of the basic materials company's stock, valued at approximately $782,000.

Other hedge funds have also made changes to their positions in the company. Empirical Asset Management LLC acquired a new position in United States Steel in the fourth quarter worth $525,000. ARS Investment Partners LLC acquired a new position in shares of United States Steel during the fourth quarter valued at $15,510,000. Rockefeller Capital Management L.P. boosted its holdings in shares of United States Steel by 646.0% during the third quarter. Rockefeller Capital Management L.P. now owns 506,694 shares of the basic materials company's stock valued at $17,902,000 after acquiring an additional 438,771 shares during the period. Geode Capital Management LLC boosted its holdings in shares of United States Steel by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,839,684 shares of the basic materials company's stock valued at $135,691,000 after acquiring an additional 37,528 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of United States Steel by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,600,708 shares of the basic materials company's stock valued at $91,883,000 after acquiring an additional 28,293 shares during the period. Institutional investors and hedge funds own 81.92% of the company's stock.

United States Steel Price Performance

United States Steel stock traded up $1.60 during midday trading on Tuesday, hitting $41.71. The company's stock had a trading volume of 6,676,210 shares, compared to its average volume of 4,913,961. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. The stock's 50-day moving average price is $37.24 and its 200-day moving average price is $36.66. United States Steel Co. has a 12 month low of $26.92 and a 12 month high of $43.35. The company has a market capitalization of $9.39 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86.

Remove Ads

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

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were paid 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 0.48%. United States Steel's dividend payout ratio is currently 13.42%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of United States Steel from $40.00 to $43.00 and gave the company an "overweight" rating in a report on Tuesday, March 11th. Morgan Stanley boosted their price target on shares of United States Steel from $39.00 to $43.00 and gave the company an "equal weight" rating in a report on Friday, March 7th. Bank of America assumed coverage on shares of United States Steel in a report on Monday, January 6th. They set a "neutral" rating and a $35.00 price target for the company. Jefferies Financial Group cut their price objective on shares of United States Steel from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, BMO Capital Markets cut their price objective on shares of United States Steel from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Friday, December 20th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.70.

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.