Readystate Asset Management LP Has $23.60 Million Position in United States Steel Co. (NYSE:X)

Readystate Asset Management LP boosted its stake in shares of United States Steel Co. (NYSE:X - Free Report) by 84.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485,086 shares of the basic materials company's stock after acquiring an additional 221,686 shares during the quarter. United States Steel accounts for 0.8% of Readystate Asset Management LP's portfolio, making the stock its 26th largest position. Readystate Asset Management LP owned about 0.22% of United States Steel worth $23,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of United States Steel in the fourth quarter valued at $25,000. ICA Group Wealth Management LLC acquired a new stake in shares of United States Steel in the fourth quarter valued at $28,000. Steward Partners Investment Advisory LLC increased its stake in shares of United States Steel by 103.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 618 shares of the basic materials company's stock valued at $30,000 after buying an additional 314 shares in the last quarter. Wolff Wiese Magana LLC increased its stake in shares of United States Steel by 181.4% in the third quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company's stock valued at $32,000 after buying an additional 635 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in United States Steel in the fourth quarter worth about $33,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on X. Morgan Stanley lowered United States Steel from an "overweight" rating to an "equal weight" rating and lifted their price objective for the stock from $40.00 to $51.00 in a research report on Thursday, February 15th. Wolfe Research upgraded United States Steel from a "peer perform" rating to an "outperform" rating and set a $46.00 target price on the stock in a report on Tuesday, April 9th. JPMorgan Chase & Co. started coverage on United States Steel in a report on Friday, January 12th. They set a "neutral" rating and a $52.00 target price on the stock. StockNews.com started coverage on United States Steel in a report on Saturday. They set a "hold" rating on the stock. Finally, BMO Capital Markets reduced their target price on United States Steel from $55.00 to $45.00 and set a "market perform" rating on the stock in a report on Tuesday, March 19th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $37.89.

United States Steel Stock Down 2.9 %

Shares of NYSE:X traded down $1.18 during trading on Wednesday, hitting $39.12. 5,838,805 shares of the company were exchanged, compared to its average volume of 4,765,202. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 11.15 and a beta of 2.00. United States Steel Co. has a fifty-two week low of $20.40 and a fifty-two week high of $50.20. The firm has a fifty day moving average price of $43.56 and a two-hundred day moving average price of $41.15. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.37.

United States Steel (NYSE:X - Get Free Report) last posted its earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.46. The business had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.73 billion. United States Steel had a return on equity of 10.80% and a net margin of 4.96%. The firm's revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.87 EPS. As a group, research analysts anticipate that United States Steel Co. will post 3.17 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 12th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.20 annualized dividend and a yield of 0.51%. United States Steel's dividend payout ratio (DPR) is presently 5.70%.

United States Steel 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.

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