Tidal Investments LLC Sells 42,429 Shares of United States Steel Co. (NYSE:X)

Tidal Investments LLC cut its stake in United States Steel Co. (NYSE:X) by 86.3% in the third quarter, HoldingsChannel.com reports. The fund owned 6,718 shares of the basic materials company’s stock after selling 42,429 shares during the period. Tidal Investments LLC’s holdings in United States Steel were worth $237,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Rothschild Investment LLC purchased a new position in United States Steel in the second quarter worth about $26,000. Palouse Capital Management Inc. bought a new position in shares of United States Steel in the 3rd quarter worth approximately $35,000. Gladius Capital Management LP purchased a new position in shares of United States Steel in the third quarter worth approximately $39,000. Ashton Thomas Private Wealth LLC bought a new stake in United States Steel during the second quarter valued at approximately $46,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in United States Steel during the third quarter valued at approximately $59,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

United States Steel Stock Up 1.9 %

Shares of X opened at $31.97 on Thursday. United States Steel Co. has a 12-month low of $26.92 and a 12-month high of $48.95. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $7.20 billion, a PE ratio of 21.03 and a beta of 1.83. The business’s 50 day moving average is $37.68 and its 200 day moving average is $37.63.

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

United States Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th were given a dividend of $0.05 per share. The ex-dividend date was Friday, November 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.63%. United States Steel’s payout ratio is 13.16%.

Analyst Upgrades and Downgrades

X has been the subject of a number of recent research reports. Jefferies Financial Group cut their price objective on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. BMO Capital Markets reduced their price target on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective on the stock in a research report on Monday, September 9th. JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $42.00 in a report on Monday, September 9th. Finally, BNP Paribas raised shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Friday, September 6th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.37.

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.