United States Steel Co. (NYSE:X) is Murchinson Ltd.'s 2nd Largest Position

Murchinson Ltd. lessened its stake in United States Steel Co. (NYSE:X - Free Report) by 38.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,045,700 shares of the basic materials company's stock after selling 654,300 shares during the period. United States Steel accounts for about 10.0% of Murchinson Ltd.'s portfolio, making the stock its 2nd largest position. Murchinson Ltd. owned 0.46% of United States Steel worth $36,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Rothschild Investment LLC bought a new position in United States Steel during the 2nd quarter worth about $26,000. Palouse Capital Management Inc. bought a new stake in shares of United States Steel in the 3rd quarter valued at about $35,000. Gladius Capital Management LP bought a new stake in shares of United States Steel in the 3rd quarter valued at about $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 bought a new stake in shares of United States Steel in the 2nd quarter valued at about $46,000. Hedge funds and other institutional investors own 81.92% of the company's stock.

United States Steel Stock Performance

X traded up $0.51 during trading on Wednesday, reaching $38.18. 6,127,614 shares of the company's stock were exchanged, compared to its average volume of 4,498,507. United States Steel Co. has a 1 year low of $26.92 and a 1 year 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 has a market capitalization of $8.60 billion, a P/E ratio of 24.78 and a beta of 1.83. The company's fifty day simple moving average is $38.16 and its 200-day simple moving average is $37.95.

United States Steel (NYSE:X - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the firm posted $1.36 EPS. United States Steel's revenue for the quarter was down 13.0% compared to the same quarter last year. As a group, research analysts predict that United States Steel Co. will post 2.21 earnings per share for the current fiscal year.

United States Steel Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on X. Glj Research upgraded shares of United States Steel from a "sell" rating to a "buy" rating and set a $38.57 price target on the stock in a report on Monday, September 9th. Jefferies Financial Group lowered their price target on shares of United States Steel from $47.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, September 5th. StockNews.com began coverage on shares of United States Steel in a report on Monday, August 19th. They issued a "hold" rating on the stock. JPMorgan Chase & Co. upgraded shares of United States Steel from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $40.00 to $42.00 in a research note on Monday, September 9th. Finally, BMO Capital Markets lowered their target price on shares of United States Steel from $45.00 to $43.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.80.

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.