HITE Hedge Asset Management LLC Invests $5.58 Million in United States Steel Co. (NYSE:X)

HITE Hedge Asset Management LLC purchased a new stake in United States Steel Co. (NYSE:X) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 147,578 shares of the basic materials company’s stock, valued at approximately $5,578,000. HITE Hedge Asset Management LLC owned about 0.07% of United States Steel as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Rothschild Investment LLC bought a new position in United States Steel during the second quarter worth about $26,000. Riverview Trust Co acquired a new stake in United States Steel during the first quarter worth about $29,000. Blue Trust Inc. increased its holdings in United States Steel by 339.0% in the 2nd quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock valued at $41,000 after buying an additional 773 shares during the period. Pineridge Advisors LLC bought a new position in United States Steel in the 4th quarter valued at about $44,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of United States Steel in the 2nd quarter valued at approximately $46,000. 81.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on X. Jefferies Financial Group decreased their price objective 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. Morgan Stanley lifted their target price on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. 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 report on Monday, September 9th. StockNews.com initiated coverage on United States Steel in a research note on Monday, August 19th. They issued a “hold” rating for the company. Finally, 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 report on Friday, September 6th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.76.

United States Steel Trading Down 2.1 %

X opened at $37.80 on Wednesday. United States Steel Co. has a twelve month low of $26.92 and a twelve month high of $50.20. The company has a fifty day moving average of $38.08 and a 200-day moving average of $38.44. The stock has a market cap of $8.50 billion, a PE ratio of 11.09 and a beta of 1.88. 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 (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, 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 firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the company posted $1.92 EPS. The business’s quarterly revenue was down 17.8% on a year-over-year basis. On average, sell-side analysts predict that United States Steel Co. will post 2.15 EPS for the current year.

United States Steel Dividend Announcement

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 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, August 12th. United States Steel’s dividend payout ratio (DPR) is 5.87%.

United States Steel 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.