Forest Avenue Capital Management LP Makes New Investment in United States Steel Co. (NYSE:X)

Forest Avenue Capital Management LP acquired a new position in shares of United States Steel Co. (NYSE:X - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,494,400 shares of the basic materials company's stock, valued at approximately $50,795,000. United States Steel makes up approximately 4.6% of Forest Avenue Capital Management LP's portfolio, making the stock its 10th largest holding. Forest Avenue Capital Management LP owned about 0.66% of United States Steel as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of United States Steel by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 20,558,732 shares of the basic materials company's stock worth $698,791,000 after buying an additional 186,994 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in United States Steel by 1.4% during the fourth quarter. Donald Smith & CO. Inc. now owns 4,788,075 shares of the basic materials company's stock valued at $162,747,000 after purchasing an additional 68,230 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of United States Steel by 3.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,773,225 shares of the basic materials company's stock valued at $162,242,000 after buying an additional 174,394 shares in the last quarter. Geode Capital Management LLC raised its position in shares of United States Steel by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 3,862,064 shares of the basic materials company's stock worth $131,313,000 after purchasing an additional 22,380 shares during the period. Finally, Norges Bank bought a new position in shares of United States Steel during the 4th quarter valued at about $130,731,000. 81.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on X shares. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $38.00 price objective (down from $43.00) on shares of United States Steel in a report on Wednesday. Jefferies Financial Group lowered their price target on shares of 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. BMO Capital Markets restated a "market perform" rating and issued a $45.00 price objective on shares of United States Steel in a report on Monday, March 31st. Bank of America began coverage on United States Steel in a research note on Monday, January 6th. They set a "neutral" rating and a $35.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on United States Steel from $39.00 to $43.00 and gave the company an "equal weight" rating in a research note on Friday, March 7th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $39.94.

United States Steel Price Performance

NYSE:X traded down $0.28 during trading hours on Friday, reaching $41.54. 3,872,737 shares of the company were exchanged, compared to its average volume of 5,442,286. The company has a market capitalization of $9.40 billion, a P/E ratio of 27.88, a P/E/G 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. The business has a 50 day moving average of $40.15 and a 200 day moving average of $37.83. United States Steel Co. has a 1-year low of $26.92 and a 1-year high of $46.18.

United States Steel (NYSE:X - Get Free Report) last posted its quarterly earnings data 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 return on equity of 4.27% and a net margin of 2.46%. Research analysts forecast that United States Steel Co. will post 1.43 EPS for the current year.

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were given a dividend of $0.05 per share. The ex-dividend date was Monday, February 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.48%. United States Steel's dividend payout ratio is currently 13.42%.

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.