Point72 Asset Management L.P. acquired a new position in United States Steel Co. (NYSE:X) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 254,600 shares of the basic materials company’s stock, valued at approximately $8,847,000. Point72 Asset Management L.P. owned approximately 0.14% of United States Steel as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. PointState Capital LP bought a new stake in United States Steel during the 1st quarter valued at $60,076,000. Pelham Capital Ltd. purchased a new stake in shares of United States Steel during the 2nd quarter valued at $50,388,000. Luminus Management LLC lifted its holdings in shares of United States Steel by 88.9% during the 2nd quarter. Luminus Management LLC now owns 2,491,501 shares of the basic materials company’s stock valued at $86,580,000 after purchasing an additional 1,172,525 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of United States Steel by 261.9% during the 1st quarter. Allianz Asset Management GmbH now owns 907,501 shares of the basic materials company’s stock valued at $31,935,000 after purchasing an additional 656,726 shares during the last quarter. Finally, Rubric Capital Management LP purchased a new stake in shares of United States Steel during the 1st quarter valued at $20,058,000. 68.20% of the stock is currently owned by institutional investors.
Several analysts have recently commented on X shares. Credit Suisse Group decreased their price objective on United States Steel from $55.00 to $48.00 in a report on Thursday, August 23rd. TheStreet upgraded United States Steel from a “c” rating to a “b” rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded United States Steel from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Tuesday, July 17th. Citigroup raised their target price on United States Steel from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, June 12th. Finally, ValuEngine lowered United States Steel from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $42.02.
Shares of X stock opened at $28.90 on Friday. The firm has a market capitalization of $5.09 billion, a P/E ratio of 8.30, a PEG ratio of 0.62 and a beta of 3.14. The company has a quick ratio of 1.02, a current ratio of 1.66 and a debt-to-equity ratio of 0.70. United States Steel Co. has a 1 year low of $23.16 and a 1 year high of $47.64.
United States Steel (NYSE:X) last issued its earnings results on Wednesday, August 1st. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.33. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.47 billion. United States Steel had a return on equity of 18.70% and a net margin of 4.09%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $1.07 EPS. analysts forecast that United States Steel Co. will post 5.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Thursday, August 9th were paid a dividend of $0.05 per share. The ex-dividend date was Wednesday, August 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.69%. United States Steel’s payout ratio is currently 10.31%.
United States Steel Profile
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.
Featured Story: Understanding Price to Earnings Ratio (PE)
Want to see what other hedge funds are holding X? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United States Steel Co. (NYSE:X).
Receive News & Ratings for United States Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United States Steel and related companies with MarketBeat.com's FREE daily email newsletter.