United States Steel Co. (NYSE:X) Holdings Lowered by Murchinson Ltd.

Murchinson Ltd. trimmed its holdings in United States Steel Co. (NYSE:X) by 19.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,700,000 shares of the basic materials company’s stock after selling 400,000 shares during the period. United States Steel comprises about 9.7% of Murchinson Ltd.’s investment portfolio, making the stock its 2nd biggest position. Murchinson Ltd. owned about 0.76% of United States Steel worth $64,260,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Rothschild Investment LLC bought a new stake in shares of United States Steel in the second quarter worth about $26,000. Riverview Trust Co bought a new stake in shares of United States Steel in the first quarter worth about $29,000. Newbridge Financial Services Group Inc. bought a new stake in shares of United States Steel in the first quarter worth about $41,000. Blue Trust Inc. increased its holdings in shares of United States Steel by 339.0% in the second quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 773 shares during the last quarter. Finally, Pineridge Advisors LLC bought a new stake in United States Steel during the fourth quarter worth approximately $44,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on X. BNP Paribas raised United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research note on Friday, September 6th. StockNews.com began coverage on United States Steel in a research note on Monday, August 19th. They set a “hold” rating on the stock. Morgan Stanley boosted their price objective on United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. BMO Capital Markets raised United States Steel from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $43.00 to $45.00 in a research note on Wednesday, June 26th. Finally, Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price on the stock in a research note on Monday, September 9th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, United States Steel presently has a consensus rating of “Moderate Buy” and an average price target of $39.76.

United States Steel Stock Performance

Shares of X opened at $36.21 on Wednesday. United States Steel Co. has a 12 month low of $26.92 and a 12 month high of $50.20. The stock has a fifty day moving average price of $38.14 and a 200-day moving average price of $38.78. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a market cap of $8.15 billion, a PE ratio of 10.62 and a beta of 1.88.

United States Steel (NYSE:X) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.72 by $0.12. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the business posted $1.92 EPS. The business’s revenue for the quarter was down 17.8% compared to the same quarter last year. Equities research analysts predict that United States Steel Co. will post 2.15 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 12th were paid a $0.05 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. United States Steel’s dividend payout ratio (DPR) is 5.87%.

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.