CoreCommodity Management LLC acquired a new position in shares of United States Steel Co. (NYSE:X) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 4,315 shares of the basic materials company’s stock, valued at approximately $152,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tide Point Capital Management LP acquired a new position in shares of United States Steel in the 4th quarter valued at $11,497,000. Slate Path Capital LP lifted its stake in shares of United States Steel by 47.1% in the 4th quarter. Slate Path Capital LP now owns 3,280,000 shares of the basic materials company’s stock valued at $115,423,000 after purchasing an additional 1,050,000 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of United States Steel in the 4th quarter valued at $4,895,000. Thrivent Financial For Lutherans lifted its stake in shares of United States Steel by 348.3% in the 4th quarter. Thrivent Financial For Lutherans now owns 166,405 shares of the basic materials company’s stock valued at $5,856,000 after purchasing an additional 129,285 shares during the last quarter. Finally, Profund Advisors LLC lifted its stake in shares of United States Steel by 28.2% in the 4th quarter. Profund Advisors LLC now owns 33,050 shares of the basic materials company’s stock valued at $1,163,000 after purchasing an additional 7,270 shares during the last quarter. 67.22% of the stock is currently owned by institutional investors.
United States Steel Co. (NYSE:X) opened at $43.69 on Friday. United States Steel Co. has a 12 month low of $18.55 and a 12 month high of $47.64. The company has a current ratio of 1.75, a quick ratio of 1.11 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $7,680.00, a PE ratio of 25.40, a P/E/G ratio of 1.42 and a beta of 2.79.
The business also recently declared a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 9th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.20 annualized dividend and a yield of 0.46%. United States Steel’s dividend payout ratio (DPR) is 11.63%.
In other United States Steel news, VP Colleen M. Darragh sold 1,060 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $37.85, for a total transaction of $40,121.00. Following the sale, the vice president now owns 18,076 shares in the company, valued at approximately $684,176.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David B. Burritt sold 6,936 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $39.95, for a total value of $277,093.20. Following the sale, the chief executive officer now owns 179,567 shares in the company, valued at approximately $7,173,701.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 139,714 shares of company stock worth $5,559,641. 1.00% of the stock is owned by company insiders.
Several brokerages have recently commented on X. BMO Capital Markets upped their price target on United States Steel to $40.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. Morgan Stanley decreased their target price on United States Steel from $46.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 6th. Credit Suisse Group increased their target price on United States Steel from $34.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Axiom Securities raised United States Steel from a “sell” rating to a “hold” rating and decreased their target price for the stock from $41.83 to $18.55 in a research note on Monday, December 11th. Finally, KeyCorp reissued a “hold” rating on shares of United States Steel in a research note on Friday, November 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. United States Steel currently has an average rating of “Buy” and an average target price of $35.94.
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United States Steel Profile
United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).
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