Point72 Asset Management L.P. Acquires New Position in United States Steel Co. (X)

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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.

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Institutional Ownership by Quarter for United States Steel (NYSE:X)

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