Magnetar Financial LLC Sells 135,136 Shares of United States Steel Co. (NYSE:X)

Magnetar Financial LLC trimmed its position in United States Steel Co. (NYSE:X - Free Report) by 16.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 681,704 shares of the basic materials company's stock after selling 135,136 shares during the quarter. Magnetar Financial LLC owned approximately 0.30% of United States Steel worth $23,171,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of X. Empirical Asset Management LLC purchased a new position in United States Steel during the fourth quarter worth about $525,000. ARS Investment Partners LLC purchased a new position in shares of United States Steel during the fourth quarter worth about $15,510,000. Rockefeller Capital Management L.P. increased its position in shares of United States Steel by 646.0% in the third quarter. Rockefeller Capital Management L.P. now owns 506,694 shares of the basic materials company's stock worth $17,902,000 after purchasing an additional 438,771 shares during the last quarter. Geode Capital Management LLC raised its stake in United States Steel by 1.0% in 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 purchasing an additional 37,528 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in 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 purchasing an additional 28,293 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

Remove Ads

United States Steel Trading Up 0.4 %

X stock traded up $0.16 during midday trading on Monday, hitting $41.06. The company had a trading volume of 6,121,464 shares, compared to its average volume of 4,956,134. The company has a current ratio of 1.55, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $43.35. The stock has a market cap of $9.25 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 1.53 and a beta of 1.86. The stock's 50 day moving average price is $37.88 and its 200 day moving average price is $36.83.

United States Steel (NYSE:X - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share for the quarter, missing the consensus estimate 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 research analysts expect that United States Steel Co. will post 1.43 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 0.49%. United States Steel's payout ratio is presently 13.42%.

Analyst Upgrades and Downgrades

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

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.