SummerHaven Investment Management LLC Buys 390 Shares of United States Steel Co. (NYSE:X)

SummerHaven Investment Management LLC increased its stake in United States Steel Co. (NYSE:X) by 2.0% during the first quarter, Holdings Channel reports. The firm owned 20,028 shares of the basic materials company’s stock after acquiring an additional 390 shares during the period. SummerHaven Investment Management LLC’s holdings in United States Steel were worth $846,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in United States Steel by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 20,558,732 shares of the basic materials company’s stock worth $698,791,000 after purchasing an additional 186,994 shares during the period. Dimensional Fund Advisors LP raised its position in shares of United States Steel by 11.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,291,906 shares of the basic materials company’s stock valued at $315,790,000 after buying an additional 929,762 shares in the last quarter. Donald Smith & CO. Inc. raised its position in shares of United States Steel by 1.4% in the 4th quarter. Donald Smith & CO. Inc. now owns 4,788,075 shares of the basic materials company’s stock valued at $162,747,000 after buying an additional 68,230 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of United States Steel by 3.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,773,225 shares of the basic materials company’s stock worth $162,242,000 after acquiring an additional 174,394 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of United States Steel by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 3,862,064 shares of the basic materials company’s stock worth $131,313,000 after acquiring an additional 22,380 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on X shares. BMO Capital Markets restated a “market perform” rating and set a $45.00 price objective on shares of United States Steel in a research report on Monday, March 31st. Glj Research cut United States Steel from a “strong-buy” rating to a “strong sell” rating in a report on Friday, May 30th. Morgan Stanley raised their price objective on United States Steel from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Jefferies Financial Group reissued a “hold” rating and set a $55.00 target price (up previously from $50.00) on shares of United States Steel in a research note on Tuesday, May 27th. Finally, Wolfe Research restated a “peer perform” rating on shares of United States Steel in a research note on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, United States Steel has an average rating of “Hold” and a consensus price target of $43.80.

United States Steel Stock Down 0.8%

NYSE:X opened at $53.46 on Thursday. United States Steel Co. has a one year low of $26.92 and a one year high of $54.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91. The company has a market cap of $12.10 billion, a PE ratio of 35.88, a P/E/G ratio of 1.53 and a beta of 1.87. The firm’s 50 day simple moving average is $45.32 and its 200 day simple moving average is $39.94.

United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, May 1st. The basic materials company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.54 billion. United States Steel had a net margin of 2.46% and a return on equity of 4.27%. United States Steel’s revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 EPS. On average, research analysts anticipate that United States Steel Co. will post 1.43 earnings per share for the current year.

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Monday, May 12th were given a $0.05 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.37%. United States Steel’s dividend payout ratio (DPR) is presently 68.97%.

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.