Graham Capital Management L.P. Makes New $4.03 Million Investment in United States Steel Co. (NYSE:X)

Graham Capital Management L.P. bought a new stake in shares of United States Steel Co. (NYSE:X) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 118,625 shares of the basic materials company’s stock, valued at approximately $4,032,000. Graham Capital Management L.P. owned approximately 0.05% of United States Steel as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in X. Bessemer Group Inc. raised its holdings in United States Steel by 64.0% in the fourth quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company’s stock worth $25,000 after buying an additional 277 shares during the last quarter. CIBC Asset Management Inc raised its holdings in United States Steel by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 6,880 shares of the basic materials company’s stock worth $234,000 after acquiring an additional 366 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in United States Steel by 0.8% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,730 shares of the basic materials company’s stock worth $1,690,000 after acquiring an additional 412 shares during the last quarter. Covestor Ltd lifted its position in United States Steel by 17.2% in the 4th quarter. Covestor Ltd now owns 2,891 shares of the basic materials company’s stock valued at $98,000 after acquiring an additional 424 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in United States Steel by 50.0% during the 4th quarter. GAMMA Investing LLC now owns 1,326 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 442 shares during the last quarter. 81.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on X shares. Morgan Stanley upped their price target on United States Steel from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. BMO Capital Markets restated a “market perform” rating and set a $45.00 target price on shares of United States Steel in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $38.00 price target (down from $43.00) on shares of United States Steel in a research note on Wednesday, April 16th. 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 stock currently has a consensus rating of “Hold” and a consensus target price of $39.22.

United States Steel Price Performance

Shares of NYSE:X opened at $42.46 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $9.61 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 1.53 and a beta of 1.82. The firm’s 50 day moving average price is $41.31 and its 200-day moving average price is $38.41. United States Steel Co. has a twelve month low of $26.92 and a twelve month high of $46.18.

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

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Monday, May 12th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, May 12th. United States Steel’s payout ratio is 68.97%.

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.