Rockefeller Capital Management L.P. Increases Stock Holdings in United States Steel Co. (NYSE:X)

Rockefeller Capital Management L.P. increased its stake in shares of United States Steel Co. (NYSE:X) by 646.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 506,694 shares of the basic materials company’s stock after purchasing an additional 438,771 shares during the quarter. Rockefeller Capital Management L.P. owned 0.23% of United States Steel worth $17,902,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of X. Cetera Advisors LLC raised its position in United States Steel by 31.9% in the 1st quarter. Cetera Advisors LLC now owns 12,438 shares of the basic materials company’s stock worth $507,000 after purchasing an additional 3,010 shares during the period. Mather Group LLC. raised its holdings in shares of United States Steel by 3,673.0% in the second quarter. Mather Group LLC. now owns 11,319 shares of the basic materials company’s stock worth $462,000 after buying an additional 11,019 shares during the period. CWM LLC lifted its stake in shares of United States Steel by 54.5% during the 2nd quarter. CWM LLC now owns 3,856 shares of the basic materials company’s stock worth $146,000 after acquiring an additional 1,360 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in United States Steel during the 2nd quarter valued at $7,171,000. Finally, Sanders Morris Harris LLC purchased a new position in United States Steel during the 2nd quarter valued at $14,560,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

United States Steel Stock Performance

Shares of United States Steel stock opened at $40.77 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $50.20. The firm has a market capitalization of $9.18 billion, a P/E ratio of 26.82 and a beta of 1.86. The company has a 50 day moving average price of $38.11 and a 200 day moving average price of $37.91.

United States Steel (NYSE:X) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating 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 return on equity of 6.01% and a net margin of 2.41%. The firm’s revenue was down 13.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.36 EPS. Sell-side analysts expect that United States Steel Co. will post 2.21 EPS for the current year.

United States Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Friday, November 8th. United States Steel’s payout ratio is presently 13.16%.

Analysts Set New Price Targets

Several research firms have recently weighed in on X. BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 target price for the company in a research report on Friday, September 6th. BMO Capital Markets lowered their price objective on shares of United States Steel from $45.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Jefferies Financial Group decreased their price target on shares of 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. StockNews.com initiated coverage on United States Steel in a report on Monday, August 19th. They set a “hold” rating on the stock. Finally, Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price for the company in a research report on Monday, September 9th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.80.

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.