Quest Partners LLC Buys 11,304 Shares of United States Steel Co. (NYSE:X)

Quest Partners LLC increased its stake in United States Steel Co. (NYSE:X) by 539.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 13,399 shares of the basic materials company’s stock after acquiring an additional 11,304 shares during the period. Quest Partners LLC’s holdings in United States Steel were worth $506,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of X. Norges Bank bought a new position in shares of United States Steel in the 4th quarter worth about $200,952,000. KRYGER CAPITAL Ltd purchased a new stake in United States Steel in the fourth quarter worth about $95,529,000. Bank of Nova Scotia bought a new position in shares of United States Steel during the fourth quarter valued at approximately $53,338,000. ING Groep NV bought a new stake in shares of United States Steel in the 4th quarter worth approximately $49,769,000. Finally, Murchinson Ltd. grew its stake in shares of United States Steel by 66.5% in the 1st quarter. Murchinson Ltd. now owns 2,100,000 shares of the basic materials company’s stock worth $85,638,000 after buying an additional 838,653 shares during the last quarter. 81.92% of the stock is owned by institutional investors.

United States Steel Stock Up 4.2 %

X stock opened at $34.78 on Friday. The business’s 50-day moving average is $38.30 and its two-hundred day moving average is $39.13. The company has a market cap of $7.82 billion, a price-to-earnings ratio of 10.20 and a beta of 1.88. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week high of $50.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.72.

United States Steel (NYSE:X) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the firm posted $1.92 earnings per share. The firm’s revenue was down 17.8% compared to the same quarter last year. As a group, analysts forecast that United States Steel Co. will post 2.19 earnings per share for the current year.

United States Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th were paid a $0.05 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.58%. United States Steel’s dividend payout ratio (DPR) is 5.87%.

Analyst Ratings Changes

Several equities research analysts have commented on X shares. Morgan Stanley boosted their target price on United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. StockNews.com assumed coverage on shares of United States Steel in a research note on Monday, August 19th. They issued a “hold” rating on the stock. BMO Capital Markets raised United States Steel from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $43.00 to $45.00 in a research report on Wednesday, June 26th. BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 target price on the stock in a research note on Friday, September 6th. Finally, Jefferies Financial Group decreased their price target on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, United States Steel presently has an average rating of “Moderate Buy” and an average price target of $39.76.

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.