Nuveen Asset Management LLC Has $24.25 Million Stock Position in United States Steel Co. (NYSE:X)

Nuveen Asset Management LLC raised its position in United States Steel Co. (NYSE:X - Free Report) by 4.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 713,381 shares of the basic materials company's stock after purchasing an additional 31,865 shares during the period. Nuveen Asset Management LLC owned about 0.32% of United States Steel worth $24,248,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in United States Steel during the fourth quarter worth approximately $130,731,000. Forest Avenue Capital Management LP bought a new stake in United States Steel during the 4th quarter valued at $50,795,000. Duquesne Family Office LLC lifted its holdings in United States Steel by 142.8% in the fourth quarter. Duquesne Family Office LLC now owns 1,610,040 shares of the basic materials company's stock worth $54,725,000 after purchasing an additional 946,950 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of United States Steel by 11.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,291,906 shares of the basic materials company's stock valued at $315,790,000 after acquiring an additional 929,762 shares during the period. Finally, Castle Hook Partners LP raised its stake in shares of United States Steel by 30.9% in the 4th quarter. Castle Hook Partners LP now owns 3,397,755 shares of the basic materials company's stock worth $115,490,000 after buying an additional 801,886 shares in the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

United States Steel Stock Up 0.2%

Shares of X traded up $0.13 during mid-day trading on Wednesday, hitting $53.17. 3,364,829 shares of the company's stock were exchanged, compared to its average volume of 7,584,622. The stock has a market cap of $12.04 billion, a price-to-earnings ratio of 35.69, a P/E/G ratio of 1.53 and a beta of 1.82. The firm has a fifty day moving average of $42.72 and a two-hundred day moving average of $38.81. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. United States Steel Co. has a twelve month low of $26.92 and a twelve month high of $54.00.

United States Steel (NYSE:X - Get Free Report) last posted its earnings results on Thursday, May 1st. The basic materials company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.04). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period in the previous year, the company earned $0.82 earnings per share. The company's quarterly revenue was down 10.4% compared to the same quarter last year. On average, sell-side analysts forecast that United States Steel Co. will post 1.43 earnings per share for the current year.

United States Steel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Monday, May 12th will be issued a $0.05 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.20 annualized dividend and a yield of 0.38%. United States Steel's dividend payout ratio (DPR) is currently 68.97%.

Analyst Ratings Changes

Several equities research analysts recently commented on X shares. Jefferies Financial Group restated a "hold" rating and issued a $55.00 price target (up previously from $50.00) on shares of United States Steel in a research report on Tuesday. BMO Capital Markets reaffirmed a "market perform" rating and set a $45.00 price objective on shares of United States Steel in a research report on Monday, March 31st. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $38.00 target price (down previously from $43.00) on shares of United States Steel in a research report on Wednesday, April 16th. Morgan Stanley lifted their target price on shares of United States Steel from $35.00 to $38.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of United States Steel in a research note on Tuesday. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $41.37.

United States Steel Company Profile

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.