Turiya Advisors Asia Ltd Buys New Position in United States Steel Co. (NYSE:X)

Turiya Advisors Asia Ltd purchased a new position in shares of United States Steel Co. (NYSE:X - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 570,300 shares of the basic materials company's stock, valued at approximately $19,384,000. United States Steel makes up 26.7% of Turiya Advisors Asia Ltd's holdings, making the stock its 2nd largest holding. Turiya Advisors Asia Ltd owned about 0.25% of United States Steel as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Ameliora Wealth Management Ltd. bought a new position in United States Steel in the fourth quarter valued at about $27,000. ORG Wealth Partners LLC bought a new position in United States Steel in the 4th quarter valued at approximately $30,000. Parkworth Wealth Management Inc. acquired a new stake in United States Steel during the 4th quarter worth approximately $31,000. Lee Danner & Bass Inc. bought a new stake in United States Steel during the 4th quarter worth approximately $32,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in United States Steel in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 81.92% of the company's stock.

Wall Street Analyst Weigh In

X has been the subject of a number of recent research reports. Bank of America initiated coverage on United States Steel in a report on Monday, January 6th. They issued a "neutral" rating and a $35.00 price objective for the company. BMO Capital Markets increased their price target on United States Steel from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. JPMorgan Chase & Co. raised their price objective on United States Steel from $40.00 to $43.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th. Morgan Stanley upped their target price on United States Steel from $39.00 to $43.00 and gave the company an "equal weight" rating in a report on Friday, March 7th. Finally, Jefferies Financial Group lowered their price target on shares of United States Steel from $45.00 to $40.00 and set a "buy" rating for the company in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, United States Steel currently has an average rating of "Moderate Buy" and an average price target of $41.32.

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United States Steel Trading Up 0.0 %

Shares of United States Steel stock traded up $0.02 on Friday, reaching $43.00. 10,027,824 shares of the company's stock were exchanged, compared to its average volume of 5,083,296. The firm's 50-day moving average is $38.52 and its two-hundred day moving average is $37.19. The company has a market capitalization of $9.73 billion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $44.87.

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

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, February 10th. United States Steel's payout ratio is currently 13.42%.

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.