United States Steel Co. (NYSE:X) Shares Purchased by KGH Ltd

KGH Ltd raised its holdings in United States Steel Co. (NYSE:X - Free Report) by 68.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,255,000 shares of the basic materials company's stock after purchasing an additional 1,724,670 shares during the quarter. United States Steel accounts for approximately 9.4% of KGH Ltd's investment portfolio, making the stock its 2nd biggest position. KGH Ltd owned about 1.89% of United States Steel worth $160,839,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Water Island Capital LLC lifted its stake in United States Steel by 5.3% in the 2nd quarter. Water Island Capital LLC now owns 906,092 shares of the basic materials company's stock valued at $34,250,000 after purchasing an additional 45,567 shares during the last quarter. Gabelli Funds LLC increased its holdings in United States Steel by 436.4% in the 4th quarter. Gabelli Funds LLC now owns 214,300 shares of the basic materials company's stock worth $10,426,000 after purchasing an additional 174,350 shares in the last quarter. Third Point LLC raised its position in United States Steel by 15.8% in the fourth quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company's stock valued at $267,575,000 after purchasing an additional 750,000 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of United States Steel by 94.3% during the first quarter. Janus Henderson Group PLC now owns 211,043 shares of the basic materials company's stock valued at $8,601,000 after purchasing an additional 102,450 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its holdings in United States Steel by 560.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 27,289 shares of the basic materials company's stock valued at $1,328,000 after buying an additional 23,157 shares during the last quarter. Institutional investors own 81.92% of the company's stock.

United States Steel Trading Down 1.0 %

NYSE:X traded down $0.34 during mid-day trading on Tuesday, hitting $34.99. 2,148,044 shares of the stock traded hands, compared to its average volume of 4,581,770. The stock has a market capitalization of $7.87 billion, a price-to-earnings ratio of 10.29 and a beta of 1.88. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $50.20. The firm's 50 day moving average is $37.94 and its two-hundred day moving average is $38.25. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.12. The company had revenue of $4.12 billion during the quarter, compared to analysts' expectations of $4.01 billion. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The firm's quarterly revenue was down 17.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.92 EPS. On average, equities research analysts predict that United States Steel Co. will post 2.18 earnings per share for the current year.

United States Steel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 12th were given a dividend of $0.05 per share. The ex-dividend date was Monday, August 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.57%. United States Steel's payout ratio is 5.87%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of United States Steel from $48.00 to $49.00 and gave the company an "overweight" rating in a research report on Thursday, August 15th. BMO Capital Markets raised United States Steel from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $43.00 to $45.00 in a research note on Wednesday, June 26th. BNP Paribas upgraded United States Steel from a "neutral" rating to an "outperform" rating and set a $40.00 price target on the stock in a report on Friday, September 6th. StockNews.com initiated coverage on shares of United States Steel in a research note on Monday, August 19th. They issued a "hold" rating for the company. 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 research note on Monday, September 9th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $40.62.

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.