United States Steel Co. (NYSE:X) Shares Bought by Vontobel Holding Ltd.

Vontobel Holding Ltd. lifted its stake in shares of United States Steel Co. (NYSE:X) by 103.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,971 shares of the basic materials company’s stock after purchasing an additional 9,660 shares during the period. Vontobel Holding Ltd.’s holdings in United States Steel were worth $670,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. KGH Ltd grew its holdings in United States Steel by 68.2% in the 2nd quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock valued at $160,839,000 after buying an additional 1,724,670 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of United States Steel by 4,305.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company’s stock valued at $137,379,000 after purchasing an additional 3,551,870 shares during the period. Alpine Associates Management Inc. increased its position in United States Steel by 13.5% during the second quarter. Alpine Associates Management Inc. now owns 2,667,932 shares of the basic materials company’s stock worth $100,848,000 after purchasing an additional 316,800 shares during the last quarter. Murchinson Ltd. raised its stake in United States Steel by 66.5% during the first 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. Finally, Water Island Capital LLC boosted its holdings in United States Steel by 5.3% in the 2nd quarter. Water Island Capital LLC now owns 906,092 shares of the basic materials company’s stock valued at $34,250,000 after purchasing an additional 45,567 shares during the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

United States Steel Price Performance

Shares of X opened at $38.91 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week high of $50.20. The company has a market cap of $8.75 billion, a P/E ratio of 17.37 and a beta of 1.87. The firm’s 50 day moving average price is $36.67 and its 200 day moving average price is $37.81.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the firm earned $1.92 earnings per share. The company’s revenue for the quarter was down 17.8% compared to the same quarter last year. On average, research analysts forecast that United States Steel Co. will post 2.17 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders 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 0.51%. The ex-dividend date of this dividend was Monday, August 12th. United States Steel’s dividend payout ratio is presently 8.93%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on X shares. JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $42.00 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 price target for the company in a report on Friday, September 6th. BMO Capital Markets upgraded shares of United States Steel from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $43.00 to $45.00 in a report on Wednesday, June 26th. StockNews.com started coverage on shares of United States Steel in a research note on Monday, August 19th. They set a “hold” rating for the company. Finally, Jefferies Financial Group reduced their price target on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.62.

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.