Choreo LLC Makes New Investment in United States Steel Co. (NYSE:X)

Choreo LLC bought a new stake in shares of United States Steel Co. (NYSE:X) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 5,568 shares of the basic materials company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds also recently made changes to their positions in X. Norges Bank purchased a new position in shares of United States Steel during the 4th quarter valued at approximately $200,952,000. KRYGER CAPITAL Ltd purchased a new position in shares of United States Steel during the 4th quarter valued at approximately $95,529,000. Bank of Nova Scotia purchased a new position in shares of United States Steel during the 4th quarter valued at approximately $53,338,000. Murchinson Ltd. boosted its stake in shares of United States Steel by 66.5% during the 1st quarter. Murchinson Ltd. now owns 2,100,000 shares of the basic materials company’s stock valued at $85,638,000 after buying an additional 838,653 shares during the last quarter. Finally, Third Point LLC boosted its stake in shares of United States Steel by 15.8% during the 4th quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock valued at $267,575,000 after buying an additional 750,000 shares during the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently 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 report on Friday, September 6th. Jefferies Financial Group dropped their price target on United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Morgan Stanley upped their price target on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. BMO Capital Markets raised United States Steel from a “market perform” rating to an “outperform” rating and upped their price target for the company from $43.00 to $45.00 in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. raised United States Steel from a “neutral” rating to an “overweight” rating and upped their price target for the company from $40.00 to $42.00 in a research report on Monday, September 9th. Five equities 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.76.

United States Steel Price Performance

Shares of NYSE X opened at $38.07 on Friday. United States Steel Co. has a 1-year low of $26.92 and a 1-year high of $50.20. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.14. The business’s fifty day moving average price is $38.09 and its two-hundred day moving average price is $38.76. The firm has a market capitalization of $8.56 billion, a PE ratio of 11.16 and a beta of 1.88.

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

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, August 12th. United States Steel’s dividend payout ratio (DPR) is 5.87%.

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.