AGF Management Ltd. Purchases 15,595 Shares of United States Steel Co. (NYSE:X)

AGF Management Ltd. grew its position in United States Steel Co. (NYSE:X) by 32.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,330 shares of the basic materials company’s stock after purchasing an additional 15,595 shares during the quarter. AGF Management Ltd.’s holdings in United States Steel were worth $2,394,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Gabelli Funds LLC boosted its stake in United States Steel by 436.4% during the fourth quarter. Gabelli Funds LLC now owns 214,300 shares of the basic materials company’s stock worth $10,426,000 after acquiring an additional 174,350 shares in the last quarter. Third Point LLC boosted its stake in United States Steel by 15.8% during the fourth quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock worth $267,575,000 after acquiring an additional 750,000 shares in the last quarter. Weiss Asset Management LP bought a new position in United States Steel during the fourth quarter worth $6,408,000. Janus Henderson Group PLC boosted its stake in United States Steel by 94.3% during the first quarter. Janus Henderson Group PLC now owns 211,043 shares of the basic materials company’s stock worth $8,601,000 after acquiring an additional 102,450 shares in the last quarter. Finally, Kingsview Wealth Management LLC acquired a new position in United States Steel during the fourth quarter worth $219,000. 81.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Glj Research upgraded shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective on the stock in a report on Monday, September 9th. JPMorgan Chase & Co. upgraded shares of United States Steel from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $40.00 to $42.00 in a report on Monday, September 9th. 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. Jefferies Financial Group lowered their price objective on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Finally, Morgan Stanley upped their price objective on shares of United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.76.

United States Steel Stock Performance

Shares of X stock opened at $36.07 on Friday. The firm has a 50-day moving average of $38.24 and a 200-day moving average of $39.05. The company has a market cap of $8.11 billion, a P/E ratio of 10.58 and a beta of 1.88. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.14. United States Steel Co. has a one year low of $26.92 and a one year high of $50.20.

United States Steel (NYSE:X) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.12. The company had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.01 billion. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The firm’s revenue for the quarter was down 17.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.92 earnings per share. Equities research analysts forecast that United States Steel Co. will post 2.15 EPS for the current fiscal year.

United States Steel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 12th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.20 annualized dividend and a yield of 0.55%. United States Steel’s payout ratio is currently 5.87%.

United States Steel 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.