48,000 Shares in United States Steel Co. (NYSE:X) Purchased by Absolute Gestao de Investimentos Ltda.

Absolute Gestao de Investimentos Ltda. acquired a new stake in shares of United States Steel Co. (NYSE:X) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 48,000 shares of the basic materials company’s stock, valued at approximately $1,632,000. United States Steel makes up about 0.7% of Absolute Gestao de Investimentos Ltda.’s holdings, making the stock its 17th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. raised its position in United States Steel by 64.0% during the fourth quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company’s stock valued at $25,000 after buying an additional 277 shares during the period. Ameliora Wealth Management Ltd. purchased a new stake in shares of United States Steel in the fourth quarter worth approximately $27,000. ORG Wealth Partners LLC acquired a new stake in shares of United States Steel during the fourth quarter worth approximately $30,000. Parkworth Wealth Management Inc. purchased a new position in United States Steel during the fourth quarter valued at approximately $31,000. Finally, Lee Danner & Bass Inc. acquired a new position in United States Steel in the 4th quarter valued at approximately $32,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

United States Steel Stock Up 1.4 %

X opened at $44.07 on Friday. United States Steel Co. has a twelve month low of $26.92 and a twelve month high of $46.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55. The business has a 50 day moving average price of $40.99 and a 200 day moving average price of $38.30. The firm has a market cap of $9.98 billion, a P/E ratio of 29.58, a price-to-earnings-growth ratio of 1.53 and a beta of 1.79.

United States Steel (NYSE:X) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.54 billion. United States Steel had a return on equity of 4.27% and a net margin of 2.46%. United States Steel’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 earnings per share. Research analysts forecast that United States Steel Co. will post 1.43 EPS for the current year.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Monday, May 12th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, May 12th. This represents a $0.20 annualized dividend and a yield of 0.45%. United States Steel’s payout ratio is 13.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on X shares. Jefferies Financial Group decreased their target price on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley boosted their target price on United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a research note on Friday, March 7th. BMO Capital Markets reaffirmed a “market perform” rating and set a $45.00 price target on shares of United States Steel in a research note on Monday, March 31st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $38.00 price target (down previously from $43.00) on shares of United States Steel in a research note on Wednesday, April 16th. Finally, Bank of America began coverage on shares of United States Steel in a research report on Monday, January 6th. They set a “neutral” rating and a $35.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $39.94.

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.