SummerHaven Investment Management LLC Has $846,000 Holdings in United States Steel Co. (NYSE:X)

SummerHaven Investment Management LLC raised its position in United States Steel Co. (NYSE:X) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,028 shares of the basic materials company’s stock after purchasing an additional 390 shares during the quarter. SummerHaven Investment Management LLC’s holdings in United States Steel were worth $846,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of X. Vanguard Group Inc. increased its stake in United States Steel by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 20,558,732 shares of the basic materials company’s stock valued at $698,791,000 after buying an additional 186,994 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of United States Steel by 11.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,291,906 shares of the basic materials company’s stock valued at $315,790,000 after acquiring an additional 929,762 shares in the last quarter. Donald Smith & CO. Inc. increased its position in shares of United States Steel by 1.4% in the fourth quarter. Donald Smith & CO. Inc. now owns 4,788,075 shares of the basic materials company’s stock valued at $162,747,000 after acquiring an additional 68,230 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of United States Steel by 3.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,773,225 shares of the basic materials company’s stock valued at $162,242,000 after acquiring an additional 174,394 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in United States Steel by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 3,862,064 shares of the basic materials company’s stock worth $131,313,000 after acquiring an additional 22,380 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors.

United States Steel Price Performance

NYSE:X opened at $53.46 on Thursday. The company has a market cap of $12.10 billion, a P/E ratio of 35.88, a P/E/G ratio of 1.53 and a beta of 1.87. The firm’s fifty day moving average price is $45.32 and its two-hundred day moving average price is $39.94. United States Steel Co. has a one year low of $26.92 and a one year high of $54.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91.

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). The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.54 billion. United States Steel had a net margin of 2.46% and a return on equity of 4.27%. The firm’s revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 earnings per share. Equities analysts expect that United States Steel Co. will post 1.43 earnings per share for the current year.

United States Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Monday, May 12th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.37%. The ex-dividend date was Monday, May 12th. United States Steel’s payout ratio is 68.97%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on X shares. Morgan Stanley raised their price target on United States Steel from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Wolfe Research reissued a “peer perform” rating on shares of United States Steel in a report on Tuesday, May 27th. JPMorgan Chase & Co. boosted their target price on shares of United States Steel from $39.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, June 2nd. Glj Research lowered shares of United States Steel from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, May 30th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $55.00 price target (up previously from $50.00) on shares of United States Steel in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, United States Steel presently has a consensus rating of “Hold” and a consensus target price of $43.80.

United States Steel 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.