Harvest Management LLC Grows Holdings in United States Steel Co. (NYSE:X)

Harvest Management LLC increased its position in United States Steel Co. (NYSE:X) by 28.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 100,100 shares of the basic materials company’s stock after buying an additional 22,400 shares during the period. United States Steel comprises approximately 1.8% of Harvest Management LLC’s holdings, making the stock its 14th largest position. Harvest Management LLC’s holdings in United States Steel were worth $3,537,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its stake in shares of United States Steel by 4,305.6% in 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 buying an additional 3,551,870 shares in the last quarter. Castle Hook Partners LP purchased a new position in shares of United States Steel during the 3rd quarter worth about $91,712,000. KGH Ltd lifted its stake in United States Steel by 68.2% in the second quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock worth $160,839,000 after purchasing an additional 1,724,670 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of United States Steel in the third quarter worth approximately $51,620,000. Finally, Forest Avenue Capital Management LP purchased a new stake in United States Steel in the second quarter worth $22,770,000. Institutional investors own 81.92% of the company’s stock.

United States Steel Stock Performance

NYSE:X opened at $40.94 on Tuesday. The company has a fifty day simple moving average of $38.16 and a two-hundred day simple moving average of $37.94. 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 company has a market cap of $9.22 billion, a price-to-earnings ratio of 26.93 and a beta of 1.83.

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

United States Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 11th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.49%. United States Steel’s dividend payout ratio (DPR) is 13.16%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BMO Capital Markets lowered their price target on United States Steel from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, November 1st. JPMorgan Chase & Co. raised United States Steel from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $42.00 in a research report on Monday, September 9th. Jefferies Financial Group lowered their target price on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. BNP Paribas upgraded shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a report on Friday, September 6th. Finally, StockNews.com started coverage on United States Steel in a research note on Monday, August 19th. They issued a “hold” rating for the company. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.80.

United States Steel Company 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.