KGH Ltd Acquires 1,724,670 Shares of United States Steel Co. (NYSE:X)

KGH Ltd lifted its holdings in shares of United States Steel Co. (NYSE:X) by 68.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,255,000 shares of the basic materials company’s stock after purchasing an additional 1,724,670 shares during the period. United States Steel accounts for 9.4% of KGH Ltd’s holdings, making the stock its 2nd biggest holding. KGH Ltd owned about 1.89% of United States Steel worth $160,839,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA raised its holdings in United States Steel by 4,305.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company’s stock worth $137,379,000 after purchasing an additional 3,551,870 shares during the last quarter. KRYGER CAPITAL Ltd bought a new position in United States Steel during the fourth quarter worth $95,529,000. Murchinson Ltd. lifted its holdings in United States Steel by 66.5% in the first quarter. Murchinson Ltd. now owns 2,100,000 shares of the basic materials company’s stock valued at $85,638,000 after buying an additional 838,653 shares during the period. Third Point LLC boosted its position in United States Steel by 15.8% during the fourth quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock valued at $267,575,000 after acquiring an additional 750,000 shares during the last quarter. Finally, Forest Avenue Capital Management LP acquired a new stake in United States Steel during the 2nd quarter worth about $22,770,000. Institutional investors own 81.92% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. BMO Capital Markets raised United States Steel from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $43.00 to $45.00 in a research note on Wednesday, June 26th. BNP Paribas raised shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Friday, September 6th. Glj Research upgraded shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price on the stock in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $42.00 in a research note on Monday, September 9th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.62.

United States Steel Stock Performance

Shares of X opened at $35.33 on Tuesday. The firm has a market capitalization of $7.95 billion, a P/E ratio of 10.45 and a beta of 1.88. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $50.20. The stock has a 50 day moving average price of $38.00 and a two-hundred day moving average price of $38.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.72.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.12. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the company posted $1.92 earnings per share. United States Steel’s revenue was down 17.8% compared to the same quarter last year. Equities analysts forecast that United States Steel Co. will post 2.18 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 12th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Monday, August 12th. United States Steel’s payout ratio is currently 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.