Segantii Capital Management Ltd Purchases Shares of 1,415,000 United States Steel Co. (NYSE:X)

Segantii Capital Management Ltd acquired a new stake in United States Steel Co. (NYSE:X) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,415,000 shares of the basic materials company’s stock, valued at approximately $68,840,000. United States Steel accounts for approximately 3.6% of Segantii Capital Management Ltd’s portfolio, making the stock its 5th biggest holding. Segantii Capital Management Ltd owned about 0.63% of United States Steel at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Pacific Capital Wealth Advisors Inc. acquired a new position in United States Steel during the 4th quarter worth approximately $25,000. Wolff Wiese Magana LLC raised its position 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 worth $32,000 after acquiring an additional 635 shares in the last quarter. GAMMA Investing LLC acquired a new stake in United States Steel in the fourth quarter valued at $33,000. Fifth Third Bancorp boosted its position in shares of United States Steel by 60.8% during the 3rd quarter. Fifth Third Bancorp now owns 1,270 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 480 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new position in shares of United States Steel in the 4th quarter valued at about $53,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

United States Steel Stock Performance

X stock traded down $0.13 during midday trading on Thursday, reaching $38.22. The company had a trading volume of 2,582,856 shares, compared to its average volume of 4,470,188. United States Steel Co. has a fifty-two week low of $20.40 and a fifty-two week high of $50.20. The company has a quick ratio of 1.14, a current ratio of 1.71 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average price of $40.92 and a 200 day moving average price of $41.64. The firm has a market capitalization of $8.59 billion, a PE ratio of 11.20 and a beta of 2.06.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Monday, May 13th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.52%. The ex-dividend date is Friday, May 10th. United States Steel’s dividend payout ratio is currently 5.87%.

Analyst Ratings Changes

A number of research firms recently commented on X. Wolfe Research raised United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective on the stock in a research note on Tuesday, April 9th. BMO Capital Markets cut their price objective on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a research report on Tuesday, March 19th. StockNews.com assumed coverage on shares of United States Steel in a research report on Tuesday. They set a “hold” rating on the stock. JPMorgan Chase & Co. reduced their price target on United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Finally, Morgan Stanley upgraded shares of United States Steel from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $51.00 to $48.00 in a report on Monday. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, United States Steel presently has a consensus rating of “Hold” and a consensus target price of $38.00.

United States Steel Profile

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.