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Versor Investments LP Has $5.82 Million Stock Position in United States Steel Co. (NYSE:X)

United States Steel logo with Basic Materials background

Versor Investments LP reduced its stake in United States Steel Co. (NYSE:X - Free Report) by 11.0% during the third quarter, according to its most recent filing with the SEC. The fund owned 164,846 shares of the basic materials company's stock after selling 20,334 shares during the quarter. United States Steel accounts for approximately 0.9% of Versor Investments LP's portfolio, making the stock its 7th largest holding. Versor Investments LP owned 0.07% of United States Steel worth $5,824,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of X. Massachusetts Financial Services Co. MA lifted its position in United States Steel by 4,305.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company's stock valued at $137,379,000 after purchasing an additional 3,551,870 shares during the last quarter. KGH Ltd raised its holdings in United States Steel by 68.2% in the 2nd quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company's stock worth $160,839,000 after acquiring an additional 1,724,670 shares during the last quarter. Murchinson Ltd. boosted its position in shares of United States Steel by 66.5% during the first quarter. Murchinson Ltd. now owns 2,100,000 shares of the basic materials company's stock valued at $85,638,000 after buying an additional 838,653 shares during the last quarter. Forest Avenue Capital Management LP purchased a new position in shares of United States Steel during the second quarter valued at approximately $22,770,000. Finally, International Assets Investment Management LLC grew its holdings in shares of United States Steel by 4,445.5% in the third quarter. International Assets Investment Management LLC now owns 571,326 shares of the basic materials company's stock worth $20,185,000 after acquiring an additional 558,757 shares during the period. Institutional investors own 81.92% of the company's stock.

United States Steel Stock Down 2.4 %

Shares of X stock traded down $0.99 during mid-day trading on Monday, reaching $40.26. 2,945,530 shares of the company were exchanged, compared to its average volume of 4,384,176. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.08 and a current ratio of 1.67. The company has a market capitalization of $9.07 billion, a P/E ratio of 26.48 and a beta of 1.86. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week high of $50.20. The business's 50 day simple moving average is $36.79 and its 200 day simple moving average is $37.76.

United States Steel (NYSE:X - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the business earned $1.36 earnings per share. United States Steel's revenue was down 13.0% compared to the same quarter last year. Research analysts predict that United States Steel Co. will post 2.17 earnings per share for the current year.

United States Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 11th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Friday, November 8th. United States Steel's dividend payout ratio is 13.16%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on X shares. Glj Research upgraded United States Steel from a "sell" rating to a "buy" rating and set a $38.57 target price on the stock in a research report on Monday, September 9th. JPMorgan Chase & Co. raised shares of United States Steel from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $40.00 to $42.00 in a research note on Monday, September 9th. Morgan Stanley lifted their price objective on shares of United States Steel from $48.00 to $49.00 and gave the company an "overweight" rating in a report on Thursday, August 15th. BMO Capital Markets decreased their price objective on United States Steel from $45.00 to $43.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Finally, StockNews.com assumed coverage on United States Steel in a research note on Monday, August 19th. They issued a "hold" rating on the stock. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $42.80.

Read Our Latest Stock Analysis 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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Institutional Ownership by Quarter for United States Steel (NYSE:X)

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