Sei Investments Co. Acquires 7,835 Shares of United States Steel Co. (NYSE:X)

Sei Investments Co. raised its position in shares of United States Steel Co. (NYSE:X) by 61.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,606 shares of the basic materials company’s stock after buying an additional 7,835 shares during the quarter. Sei Investments Co.’s holdings in United States Steel were worth $779,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its stake in shares of United States Steel by 4,305.6% in the 2nd 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 buying an additional 3,551,870 shares during the period. Murchinson Ltd. lifted its holdings in 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 buying an additional 838,653 shares during the last quarter. Third Point LLC raised its holdings 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 worth $267,575,000 after purchasing an additional 750,000 shares in the last quarter. Sanders Morris Harris LLC acquired a new position in United States Steel in the second quarter valued at $14,560,000. Finally, Alpine Associates Management Inc. boosted its position in shares of United States Steel by 13.5% in the 2nd quarter. Alpine Associates Management Inc. now owns 2,667,932 shares of the basic materials company’s stock valued at $100,848,000 after purchasing an additional 316,800 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on X. Morgan Stanley boosted their price target on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Jefferies Financial Group cut their target price on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. BMO Capital Markets raised shares of United States Steel from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $43.00 to $45.00 in a research note on Wednesday, June 26th. BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Friday, September 6th. Finally, StockNews.com assumed coverage on United States Steel in a research report on Monday, August 19th. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.62.

United States Steel Price Performance

Shares of X stock opened at $35.26 on Wednesday. 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 Co. has a fifty-two week low of $26.92 and a fifty-two week high of $50.20. The firm has a market cap of $7.93 billion, a P/E ratio of 10.34 and a beta of 1.87. The business’s 50 day moving average price is $37.42 and its 200-day moving average price is $38.09.

United States Steel (NYSE:X) last issued 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. The company had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.01 billion. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. United States Steel’s quarterly revenue was down 17.8% compared to the same quarter last year. During the same period last year, the business earned $1.92 EPS. On average, equities research analysts anticipate that United States Steel Co. will post 2.18 earnings per share for the current year.

United States Steel Dividend Announcement

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