Readystate Asset Management LP Boosts Stake in United States Steel Co. (NYSE:X)

Readystate Asset Management LP lifted its position in United States Steel Co. (NYSE:X) by 84.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 485,086 shares of the basic materials company’s stock after purchasing an additional 221,686 shares during the quarter. United States Steel makes up 0.8% of Readystate Asset Management LP’s holdings, making the stock its 26th biggest holding. Readystate Asset Management LP’s holdings in United States Steel were worth $23,599,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacific Capital Wealth Advisors Inc. purchased a new stake in United States Steel during the 4th quarter valued at about $25,000. Steward Partners Investment Advisory LLC raised its position in shares of United States Steel by 103.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 618 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 314 shares in the last quarter. GAMMA Investing LLC bought a new position in United States Steel during the 4th quarter valued at approximately $33,000. Aspect Partners LLC purchased a new stake in United States Steel during the 4th quarter valued at $40,000. Finally, Wolff Wiese Magana LLC boosted its stake in United States Steel by 181.4% during the 3rd quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 635 shares during the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

United States Steel Trading Down 2.9 %

X traded down $1.18 on Wednesday, hitting $39.12. The company had a trading volume of 5,838,805 shares, compared to its average volume of 4,765,202. United States Steel Co. has a 12-month low of $20.40 and a 12-month high of $50.20. The business’s fifty day simple moving average is $43.56 and its 200 day simple moving average is $41.15. The company has a market cap of $8.79 billion, a PE ratio of 11.15 and a beta of 2.00. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.37.

United States Steel (NYSE:X) last announced its earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.46. United States Steel had a return on equity of 10.80% and a net margin of 4.96%. The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the previous year, the business earned $0.87 earnings per share. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. Equities research analysts expect that United States Steel Co. will post 3.17 EPS for the current year.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 12th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. United States Steel’s dividend payout ratio (DPR) is presently 5.70%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on X. BMO Capital Markets decreased their target price 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. Wolfe Research raised United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a report on Tuesday, April 9th. StockNews.com initiated coverage on United States Steel in a report on Saturday. They set a “hold” rating on the stock. Morgan Stanley cut United States Steel from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $40.00 to $51.00 in a report on Thursday, February 15th. Finally, JPMorgan Chase & Co. initiated coverage on United States Steel in a report on Friday, January 12th. They issued a “neutral” rating and a $52.00 target price on the stock. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $37.89.

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.