254,600 Shares in United States Steel Co. (X) Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new stake in shares of United States Steel Co. (NYSE:X) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 254,600 shares of the basic materials company’s stock, valued at approximately $8,847,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. James Investment Research Inc. grew its position in shares of United States Steel by 6.3% during the 2nd quarter. James Investment Research Inc. now owns 69,455 shares of the basic materials company’s stock valued at $2,414,000 after acquiring an additional 4,115 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of United States Steel by 26.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,836 shares of the basic materials company’s stock valued at $446,000 after acquiring an additional 2,716 shares during the period. Pelham Capital Ltd. acquired a new stake in shares of United States Steel during the 2nd quarter valued at about $50,388,000. Bridgewater Associates LP grew its position in shares of United States Steel by 12.2% during the 2nd quarter. Bridgewater Associates LP now owns 506,785 shares of the basic materials company’s stock valued at $17,611,000 after acquiring an additional 54,950 shares during the period. Finally, State of Alaska Department of Revenue grew its position in shares of United States Steel by 40.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 19,160 shares of the basic materials company’s stock valued at $665,000 after acquiring an additional 5,470 shares during the period. Institutional investors and hedge funds own 68.20% of the company’s stock.

A number of equities research analysts have recently commented on X shares. Credit Suisse Group dropped their target price on United States Steel from $55.00 to $48.00 in a research 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 price objective on the stock in a report on Tuesday, July 17th. Citigroup lifted their price objective on United States Steel from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, June 12th. Finally, ValuEngine cut United States Steel from a “buy” rating to a “hold” rating in a report on Friday, June 8th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. United States Steel has a consensus rating of “Hold” and a consensus price target of $42.02.

X stock opened at $28.90 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.66. United States Steel Co. has a 12-month low of $23.16 and a 12-month high of $47.64. The stock 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.

United States Steel (NYSE:X) last posted its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.33. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.47 billion. United States Steel had a return on equity of 18.70% and a net margin of 4.09%. United States Steel’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.07 EPS. analysts expect that United States Steel Co. will post 5.81 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Thursday, August 9th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Wednesday, August 8th. United States Steel’s dividend payout ratio is currently 10.31%.

United States Steel Company 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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