United States Steel Co. (NYSE:X) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. raised its position in United States Steel Co. (NYSE:X) by 16.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,303 shares of the basic materials company’s stock after purchasing an additional 3,361 shares during the quarter. Federated Hermes Inc.’s holdings in United States Steel were worth $919,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in X. Third Point LLC raised its holdings in United States Steel by 15.8% in the 4th quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock valued at $267,575,000 after buying an additional 750,000 shares during the period. PSquared Asset Management AG lifted its holdings in shares of United States Steel by 1.0% in the 4th quarter. PSquared Asset Management AG now owns 2,370,000 shares of the basic materials company’s stock worth $105,658,000 after acquiring an additional 23,700 shares during the last quarter. Murchinson Ltd. boosted its position in shares of United States Steel by 66.5% during the 1st quarter. Murchinson Ltd. now owns 2,100,000 shares of the basic materials company’s stock worth $85,638,000 after purchasing an additional 838,653 shares during the period. KRYGER CAPITAL Ltd acquired a new stake in United States Steel in the 4th quarter valued at approximately $95,529,000. Finally, Bank of Nova Scotia purchased a new stake in United States Steel in the fourth quarter valued at approximately $53,338,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

United States Steel Stock Performance

NYSE X opened at $38.96 on Friday. The company has a fifty day moving average of $38.09 and a two-hundred day moving average of $38.63. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.14. United States Steel Co. has a 1 year low of $26.92 and a 1 year high of $50.20. The company has a market capitalization of $8.76 billion, a PE ratio of 11.43 and a beta of 1.88.

United States Steel (NYSE:X) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.12. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the firm posted $1.92 EPS. United States Steel’s quarterly revenue was down 17.8% on a year-over-year basis. As a group, analysts expect that United States Steel Co. will post 2.15 earnings per share for the current year.

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 12th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.51%. United States Steel’s dividend payout ratio (DPR) is presently 5.87%.

Analyst Upgrades and Downgrades

X has been the subject of several research analyst reports. Morgan Stanley raised their price target on United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. StockNews.com started coverage on United States Steel in a research report on Monday, August 19th. They issued a “hold” rating for the company. Glj Research raised shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price target on the stock in a research report on Monday, September 9th. 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 report on Friday, September 6th. Finally, JPMorgan Chase & Co. raised United States Steel from a “neutral” rating to an “overweight” rating and increased their price target for the company from $40.00 to $42.00 in a research report on Monday, September 9th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.76.

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.