Diametric Capital LP lowered its position in shares of United States Steel Co. (NYSE:X - Free Report) by 53.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,673 shares of the basic materials company's stock after selling 31,331 shares during the quarter. Diametric Capital LP's holdings in United States Steel were worth $941,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of X. Norges Bank bought a new position in United States Steel during the 4th quarter valued at approximately $130,731,000. Holocene Advisors LP purchased a new stake in shares of United States Steel in the third quarter worth $51,620,000. Turiya Advisors Asia Ltd bought a new position in shares of United States Steel during the fourth quarter valued at $19,384,000. E. Ohman J or Asset Management AB purchased a new position in shares of United States Steel in the 4th quarter worth about $17,907,000. Finally, ARS Investment Partners LLC bought a new position in United States Steel in the 4th quarter worth about $15,510,000. Institutional investors own 81.92% of the company's stock.
United States Steel Stock Performance
Shares of X traded down $0.66 during trading hours on Friday, hitting $38.30. The stock had a trading volume of 9,264,572 shares, compared to its average volume of 5,191,703. The firm has a market capitalization of $8.67 billion, a PE ratio of 25.70, a PEG ratio of 1.53 and a beta of 1.79. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91. United States Steel Co. has a 12 month low of $26.92 and a 12 month high of $44.87. The stock has a fifty day moving average price of $38.93 and a 200 day moving average price of $37.38.
United States Steel (NYSE:X - Get Free Report) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (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 EPS for the current year.
United States Steel Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Monday, February 10th. United States Steel's dividend payout ratio is presently 13.42%.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. BMO Capital Markets restated a "market perform" rating and set a $45.00 price objective on shares of United States Steel in a research note on Monday, March 31st. JPMorgan Chase & Co. boosted their price objective on shares of 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 cut their target price on 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. Bank of America started coverage on United States Steel in a report on Monday, January 6th. They issued a "neutral" rating and a $35.00 target price for the company. Finally, Morgan Stanley increased their price objective 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. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, United States Steel has a consensus rating of "Moderate Buy" and an average price target of $41.32.
Check Out Our Latest Report on X
United States Steel Profile
(
Free Report)
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.
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