Turiya Advisors Asia Ltd Makes New $19.38 Million Investment in United States Steel Co. (NYSE:X)

Turiya Advisors Asia Ltd bought a new position in United States Steel Co. (NYSE:X) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 570,300 shares of the basic materials company’s stock, valued at approximately $19,384,000. United States Steel accounts for approximately 26.7% of Turiya Advisors Asia Ltd’s holdings, making the stock its 2nd biggest position. Turiya Advisors Asia Ltd owned approximately 0.25% of United States Steel at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of United States Steel by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 20,558,732 shares of the basic materials company’s stock valued at $698,791,000 after buying an additional 186,994 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in United States Steel during the 4th quarter worth about $1,536,000. Lee Danner & Bass Inc. purchased a new position in United States Steel during the 4th quarter valued at about $32,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of United States Steel by 0.8% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,730 shares of the basic materials company’s stock valued at $1,690,000 after purchasing an additional 412 shares during the period. Finally, Xponance Inc. lifted its position in shares of United States Steel by 11.8% in the fourth quarter. Xponance Inc. now owns 27,838 shares of the basic materials company’s stock worth $946,000 after purchasing an additional 2,933 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

United States Steel Stock Performance

X opened at $41.06 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55. The company has a market cap of $9.25 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86. The stock has a 50-day moving average of $37.97 and a 200-day moving average of $36.91. United States Steel Co. has a 52-week low of $26.92 and a 52-week high of $43.35.

United States Steel (NYSE:X) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. As a group, equities research analysts forecast that United States Steel Co. will post 1.43 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, March 12th. Investors of record on Monday, February 10th were issued a $0.05 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.20 annualized dividend and a yield of 0.49%. United States Steel’s dividend payout ratio (DPR) is presently 13.42%.

Analyst Ratings Changes

Several research analysts have weighed in on X shares. Jefferies Financial Group dropped their price objective on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. BMO Capital Markets upped their price target on shares of United States Steel from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. lifted their price objective on United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. Bank of America started coverage on United States Steel in a research note on Monday, January 6th. They issued a “neutral” rating and a $35.00 target price on the stock. Finally, Morgan Stanley lifted their price target on United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.32.

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.