Handelsinvest Investeringsforvaltning Has $194,000 Stake in United States Steel Co. (NYSE:X)

Handelsinvest Investeringsforvaltning trimmed its holdings in shares of United States Steel Co. (NYSE:X) by 34.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,752 shares of the basic materials company’s stock after selling 2,467 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in United States Steel were worth $194,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of X. Natixis Advisors L.P. increased its holdings in United States Steel by 58.3% during the 3rd quarter. Natixis Advisors L.P. now owns 22,931 shares of the basic materials company’s stock valued at $745,000 after purchasing an additional 8,441 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in United States Steel by 9.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 12,239 shares of the basic materials company’s stock valued at $398,000 after buying an additional 1,054 shares during the last quarter. Alpine Global Management LLC bought a new position in United States Steel in the 3rd quarter valued at $731,000. AXQ Capital LP bought a new position in United States Steel in the 3rd quarter valued at $299,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in United States Steel in the 3rd quarter valued at $3,248,000. 81.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on X shares. BMO Capital Markets upgraded United States Steel from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $43.00 to $45.00 in a research report on Wednesday, June 26th. Morgan Stanley upgraded United States Steel from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $51.00 to $48.00 in a research report on Monday, May 6th. StockNews.com started coverage on United States Steel in a research report on Tuesday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. reduced their price target on United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Finally, Jefferies Financial Group started coverage on United States Steel in a research report on Monday, May 20th. They issued a “buy” rating and a $45.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, United States Steel currently has an average rating of “Hold” and an average price target of $38.78.

United States Steel Stock Performance

Shares of United States Steel stock opened at $39.26 on Thursday. The company has a market capitalization of $8.83 billion, a PE ratio of 11.51 and a beta of 1.93. United States Steel Co. has a 12 month low of $22.26 and a 12 month high of $50.20. The company has a current ratio of 1.71, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $37.31 and its 200 day simple moving average is $42.31.

United States Steel (NYSE:X) last issued its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.77 by $0.01. The business had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.22 billion. United States Steel had a return on equity of 10.61% and a net margin of 4.89%. On average, research analysts predict that United States Steel Co. will post 2.63 EPS for the current year.

United States Steel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Monday, May 13th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Friday, May 10th. United States Steel’s dividend payout ratio is 5.87%.

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.