Algert Global LLC Raises Stake in United States Steel Co. (NYSE:X)

Algert Global LLC grew its stake in United States Steel Co. (NYSE:X) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 125,714 shares of the basic materials company’s stock after acquiring an additional 1,550 shares during the quarter. Algert Global LLC owned about 0.06% of United States Steel worth $4,441,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its holdings in shares of United States Steel by 4,305.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company’s stock worth $137,379,000 after purchasing an additional 3,551,870 shares during the period. KGH Ltd increased its position in shares of United States Steel by 68.2% during the second quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock valued at $160,839,000 after acquiring an additional 1,724,670 shares during the last quarter. Murchinson Ltd. raised its stake in shares of United States Steel by 66.5% in the 1st quarter. Murchinson Ltd. now owns 2,100,000 shares of the basic materials company’s stock valued at $85,638,000 after acquiring an additional 838,653 shares during the period. Forest Avenue Capital Management LP acquired a new position in shares of United States Steel in the 2nd quarter worth approximately $22,770,000. Finally, International Assets Investment Management LLC increased its holdings in United States Steel by 4,445.5% in the 3rd quarter. International Assets Investment Management LLC now owns 571,326 shares of the basic materials company’s stock valued at $20,185,000 after purchasing an additional 558,757 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on X. Morgan Stanley lifted their price objective on shares of United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective on the stock in a research report on Monday, September 9th. StockNews.com initiated coverage on United States Steel in a report on Monday, August 19th. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised United States Steel from a “neutral” rating to an “overweight” rating and increased their price target for the company from $40.00 to $42.00 in a research report on Monday, September 9th. Finally, Jefferies Financial Group lowered their price objective on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, United States Steel currently has an average rating of “Moderate Buy” and a consensus price target of $42.80.

United States Steel Stock Performance

Shares of X opened at $39.03 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35. United States Steel Co. has a 52-week low of $26.92 and a 52-week high of $50.20. The stock has a 50 day moving average price of $37.84 and a 200 day moving average price of $37.85. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 25.68 and a beta of 1.86.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.41 by $0.15. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the business earned $1.36 EPS. United States Steel’s revenue for the quarter was down 13.0% compared to the same quarter last year. Research analysts predict that United States Steel Co. will post 2.21 EPS for the current fiscal year.

United States Steel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.51%. The ex-dividend date is Friday, November 8th. United States Steel’s dividend payout ratio (DPR) is 13.16%.

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.