AGF Management Ltd. purchased a new position in shares of United States Steel Co. (NYSE:X - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 80,874 shares of the basic materials company's stock, valued at approximately $3,935,000.
Several other hedge funds have also made changes to their positions in X. Pacific Capital Wealth Advisors Inc. acquired a new stake in United States Steel in the fourth quarter valued at approximately $25,000. GAMMA Investing LLC acquired a new stake in United States Steel in the fourth quarter valued at approximately $33,000. Wolff Wiese Magana LLC raised its holdings in 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 acquiring an additional 635 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in United States Steel in the fourth quarter valued at approximately $53,000. Finally, Fifth Third Bancorp raised its holdings in United States Steel by 60.8% in the third quarter. Fifth Third Bancorp now owns 1,270 shares of the basic materials company's stock valued at $41,000 after acquiring an additional 480 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company's stock.
Analyst Upgrades and Downgrades
X has been the topic of several recent analyst reports. Morgan Stanley upgraded shares of United States Steel from an "equal weight" rating to an "overweight" rating and dropped their price target for the company from $51.00 to $48.00 in a research note on Monday, May 6th. JPMorgan Chase & Co. cut their target price on United States Steel from $47.00 to $43.00 and set a "neutral" rating for the company in a research note on Friday, May 3rd. Wolfe Research raised shares of United States Steel from a "peer perform" rating to an "outperform" rating and set a $46.00 target price for the company in a report on Tuesday, April 9th. StockNews.com assumed coverage on United States Steel in a report on Tuesday, May 7th. They set a "hold" rating for the company. Finally, BMO Capital Markets cut their price target on United States Steel from $55.00 to $45.00 and set a "market perform" rating for the company in a report on Tuesday, March 19th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $38.00.
View Our Latest Stock Analysis on United States Steel
United States Steel Stock Down 0.1 %
NYSE X traded down $0.05 during mid-day trading on Monday, reaching $37.98. 787,701 shares of the company's stock traded hands, compared to its average volume of 4,395,549. United States Steel Co. has a 1-year low of $20.40 and a 1-year high of $50.20. The company has a fifty day simple moving average of $40.55 and a 200-day simple moving average of $41.79. The company has a current ratio of 1.71, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 11.14 and a beta of 2.06.
United States Steel Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Monday, May 13th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Friday, May 10th. United States Steel's dividend payout ratio is presently 5.87%.
About United States Steel
(
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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