GAMMA Investing LLC Acquires Shares of 708 United States Steel Co. (NYSE:X)

GAMMA Investing LLC acquired a new position in United States Steel Co. (NYSE:X) during the fourth quarter, Holdings Channel.com reports. The firm acquired 708 shares of the basic materials company’s stock, valued at approximately $33,000.

Several other institutional investors have also recently made changes to their positions in X. Third Point LLC purchased a new stake in United States Steel in the 3rd quarter worth approximately $154,280,000. KGH Ltd grew its position in United States Steel by 7.5% during the third quarter. KGH Ltd now owns 4,488,769 shares of the basic materials company’s stock valued at $145,795,000 after buying an additional 315,000 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in United States Steel by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,404,657 shares of the basic materials company’s stock valued at $78,103,000 after buying an additional 67,824 shares in the last quarter. Laurion Capital Management LP purchased a new position in United States Steel in the third quarter valued at $50,912,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of United States Steel by 1.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,258,118 shares of the basic materials company’s stock worth $61,207,000 after acquiring an additional 14,440 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Analysts Set New Price Targets

X has been the subject of several recent analyst reports. StockNews.com started coverage on United States Steel in a research note on Monday, April 29th. They issued a “hold” rating for the company. 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 report on Tuesday, April 9th. BMO Capital Markets dropped their price objective on United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a report on Tuesday, March 19th. JPMorgan Chase & Co. dropped their price objective on United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Morgan Stanley lowered United States Steel from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $40.00 to $51.00 in a report on Thursday, February 15th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $38.38.

United States Steel Stock Performance

Shares of NYSE:X opened at $36.47 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.76 and a quick ratio of 1.22. The business’s 50 day moving average price is $41.48 and its 200-day moving average price is $41.58. The firm has a market capitalization of $8.20 billion, a PE ratio of 10.70 and a beta of 2.06. United States Steel Co. has a 1 year low of $20.40 and a 1 year high of $50.20.

United States Steel (NYSE:X) last issued its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.46. The firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.73 billion. United States Steel had a return on equity of 10.68% and a net margin of 4.89%. The business’s revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 earnings per share. As a group, equities research analysts expect that United States Steel Co. will post 2.99 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Friday, May 10th. United States Steel’s dividend payout ratio (DPR) is currently 5.87%.

About United States Steel

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.