Verus Capital Partners LLC Acquires 13,594 Shares of United States Steel Co. (NYSE:X)

Verus Capital Partners LLC raised its stake in shares of United States Steel Co. (NYSE:X) by 88.6% in the 3rd quarter, Holdings Channel reports. The firm owned 28,940 shares of the basic materials company’s stock after purchasing an additional 13,594 shares during the quarter. Verus Capital Partners LLC’s holdings in United States Steel were worth $1,022,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rothschild Investment LLC acquired a new stake in shares of United States Steel during the second quarter worth $26,000. Palouse Capital Management Inc. acquired a new stake in United States Steel during the 3rd quarter worth about $35,000. Blue Trust Inc. raised its position in shares of United States Steel by 339.0% in the 2nd quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 773 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of United States Steel in the 2nd quarter worth about $46,000. Finally, Headlands Technologies LLC bought a new stake in shares of United States Steel during the 1st quarter valued at about $58,000. 81.92% of the stock is owned by institutional investors and hedge funds.

United States Steel Trading Down 2.4 %

X opened at $40.26 on Tuesday. The firm has a market capitalization of $9.07 billion, a PE ratio of 26.49 and a beta of 1.86. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.67 and a quick ratio of 1.08. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week high of $50.20. The company’s 50-day moving average is $36.83 and its 200 day moving average is $37.78.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.77 billion. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. United States Steel’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same period last year, the company posted $1.36 earnings per share. As a group, research analysts predict that United States Steel Co. will post 2.17 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Friday, November 8th. United States Steel’s dividend payout ratio is 13.16%.

Analyst Ratings Changes

Several equities analysts have issued reports on X shares. BNP Paribas raised United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Friday, September 6th. Morgan Stanley boosted their target price on shares of United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Glj Research upgraded shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price target for the company in a report on Monday, September 9th. StockNews.com assumed coverage on shares of United States Steel in a report on Monday, August 19th. They set a “hold” rating on the stock. Finally, BMO Capital Markets reduced their target price on United States Steel from $45.00 to $43.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.