Murchinson Ltd. Has $39.69 Million Holdings in United States Steel Co. (NYSE:X)

Murchinson Ltd. cut its holdings in United States Steel Co. (NYSE:X) by 50.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,050,000 shares of the basic materials company’s stock after selling 1,050,000 shares during the quarter. United States Steel comprises 7.3% of Murchinson Ltd.’s portfolio, making the stock its 3rd largest position. Murchinson Ltd. owned approximately 0.47% of United States Steel worth $39,690,000 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. Rothschild Investment LLC acquired a new position in shares of United States Steel during the 2nd quarter worth about $26,000. Riverview Trust Co bought a new position in United States Steel during the 1st quarter worth approximately $29,000. Pineridge Advisors LLC acquired a new position in United States Steel during the fourth quarter valued at approximately $44,000. Blue Trust Inc. increased its stake in United States Steel by 339.0% in the second quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 773 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in United States Steel in the fourth quarter worth $49,000. 81.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on X. Glj Research raised shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price target for the company in a report on Monday, September 9th. JPMorgan Chase & Co. upgraded United States Steel from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $40.00 to $42.00 in a report on Monday, September 9th. Morgan Stanley lifted their price objective on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. BNP Paribas raised United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Friday, September 6th. Finally, Jefferies Financial Group cut 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. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.76.

United States Steel Stock Down 0.9 %

United States Steel stock opened at $38.59 on Tuesday. The company has a fifty day simple moving average of $38.09 and a 200 day simple moving average of $38.51. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. 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 cap of $8.68 billion, a P/E ratio of 11.32 and a beta of 1.88.

United States Steel (NYSE:X) last released its earnings results on Thursday, August 1st. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.01 billion. During the same quarter in the previous year, the business earned $1.92 earnings per share. United States Steel’s quarterly revenue was down 17.8% on a year-over-year basis. Research analysts anticipate that United States Steel Co. will post 2.15 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 issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, August 12th. United States Steel’s payout ratio is presently 5.87%.

About United States Steel

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.