Baker Avenue Asset Management LP lowered its stake in United States Steel Co. (NYSE:X) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,683 shares of the basic materials company’s stock after selling 3,749 shares during the period. Baker Avenue Asset Management LP’s holdings in United States Steel were worth $1,150,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Jafra Capital Management LP increased its holdings in shares of United States Steel by 433.1% in the fourth quarter. Jafra Capital Management LP now owns 100,598 shares of the basic materials company’s stock valued at $3,540,000 after purchasing an additional 81,728 shares during the period. Advisor Group Inc. increased its holdings in shares of United States Steel by 11.8% in the fourth quarter. Advisor Group Inc. now owns 17,228 shares of the basic materials company’s stock valued at $606,000 after purchasing an additional 1,822 shares during the period. CoreCommodity Management LLC acquired a new position in shares of United States Steel in the fourth quarter valued at approximately $152,000. Tide Point Capital Management LP acquired a new position in United States Steel during the fourth quarter worth $11,497,000. Finally, Slate Path Capital LP grew its holdings in United States Steel by 47.1% during the fourth quarter. Slate Path Capital LP now owns 3,280,000 shares of the basic materials company’s stock worth $115,423,000 after acquiring an additional 1,050,000 shares during the period. 67.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of United States Steel Co. (X) opened at $43.69 on Monday. The company has a current ratio of 1.75, a quick ratio of 1.11 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $7,680.00, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 1.36 and a beta of 2.79. United States Steel Co. has a 12-month low of $18.55 and a 12-month high of $47.64.
The company also recently announced a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 9th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.46%. United States Steel’s payout ratio is 11.63%.
In other news, insider Richard Fruehauf sold 1,594 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $45.05, for a total value of $71,809.70. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Sara A. Greenstein sold 2,613 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $45.33, for a total value of $118,447.29. Following the completion of the sale, the vice president now owns 51,250 shares in the company, valued at $2,323,162.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,831 shares of company stock worth $5,195,060. 1.00% of the stock is owned by company insiders.
A number of brokerages recently weighed in on X. ValuEngine raised United States Steel from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Bank of America lowered United States Steel from a “buy” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a report on Friday, March 2nd. Credit Suisse Group upped their price objective on United States Steel from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday. Argus reaffirmed a “buy” rating and set a $52.00 price objective (up previously from $41.00) on shares of United States Steel in a report on Wednesday, February 21st. Finally, Vertical Group began coverage on United States Steel in a report on Tuesday, January 30th. They set a “sell” rating and a $25.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. United States Steel presently has a consensus rating of “Buy” and a consensus target price of $35.94.
United States Steel Company Profile
United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).
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