Versor Investments LP lessened its stake in shares of United States Steel Co. (NYSE:X - Free Report) by 11.0% in 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 period. United States Steel comprises about 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 filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of X. Rothschild Investment LLC acquired a new position in shares of United States Steel in the 2nd quarter valued at about $26,000. Palouse Capital Management Inc. acquired a new position in shares of United States Steel in the third quarter worth $35,000. Blue Trust Inc. raised its holdings in shares of United States Steel by 339.0% during the second quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company's stock worth $41,000 after acquiring an additional 773 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in United States Steel during the second quarter valued at $46,000. Finally, Headlands Technologies LLC purchased a new position in United States Steel in the first quarter valued at about $58,000. Institutional investors and hedge funds own 81.92% of the company's stock.
A number of equities research analysts have recently weighed in on X shares. Jefferies Financial Group cut their price target on United States Steel from $47.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, September 5th. StockNews.com began coverage on shares of United States Steel in a research report on Monday, August 19th. They issued a "hold" rating for the company. Glj Research upgraded shares of United States Steel from a "sell" rating to a "buy" rating and set a $38.57 price target on the stock in a research note 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 objective for the company from $40.00 to $42.00 in a research note on Monday, September 9th. Finally, BMO Capital Markets lowered their target price on shares of United States Steel from $45.00 to $43.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.80.
Get Our Latest Stock Report on United States Steel
X traded down $0.54 during trading on Monday, hitting $40.71. The stock had a trading volume of 333,064 shares, compared to its average volume of 4,372,193. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35. The company has a 50 day simple moving average of $36.79 and a 200-day simple moving average of $37.75. The firm has a market cap of $9.17 billion, a PE ratio of 27.14 and a beta of 1.86. United States Steel Co. has a 12 month low of $26.92 and a 12 month high of $50.20.
United States Steel (NYSE:X - Get Free Report) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the firm posted $1.36 earnings per share. United States Steel's revenue was down 13.0% compared to the same quarter last year. Analysts expect that United States Steel Co. will post 2.17 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Friday, November 8th. United States Steel's dividend payout ratio is presently 13.16%.
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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