United States Steel Co. (NYSE:X) is Murchinson Ltd.’s 2nd Largest Position

Murchinson Ltd. lowered its stake in shares of United States Steel Co. (NYSE:X) by 19.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,700,000 shares of the basic materials company’s stock after selling 400,000 shares during the period. United States Steel comprises about 9.7% of Murchinson Ltd.’s portfolio, making the stock its 2nd largest holding. Murchinson Ltd.’s holdings in United States Steel were worth $64,260,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of X. Rothschild Investment LLC purchased a new position in shares of United States Steel during the 2nd quarter valued at about $26,000. Riverview Trust Co purchased a new position in shares of United States Steel in the 1st quarter valued at about $29,000. Newbridge Financial Services Group Inc. acquired a new stake in United States Steel in the 1st quarter worth about $41,000. Blue Trust Inc. boosted 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 worth $41,000 after buying an additional 773 shares during the last quarter. Finally, Pineridge Advisors LLC acquired a new stake in United States Steel in the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on X. StockNews.com began coverage on United States Steel in a report on Monday, August 19th. They set a “hold” rating on the stock. Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price target on the stock in a research note on Monday, September 9th. Morgan Stanley upped their price target on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. BMO Capital Markets raised United States Steel from a “market perform” rating to an “outperform” rating and upped their price target for the company from $43.00 to $45.00 in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. raised United States Steel from a “neutral” rating to an “overweight” rating and upped their price target for the company from $40.00 to $42.00 in a research note on Monday, September 9th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.76.

United States Steel Price Performance

Shares of NYSE X opened at $36.21 on Wednesday. The stock’s 50-day moving average is $38.14 and its two-hundred day moving average is $38.78. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.14. 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 $8.15 billion, a price-to-earnings ratio of 10.62 and a beta of 1.88.

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 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 company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the business earned $1.92 EPS. United States Steel’s revenue was down 17.8% on a year-over-year basis. Analysts forecast that United States Steel Co. will post 2.15 EPS for the current fiscal year.

United States Steel Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. United States Steel’s payout ratio is currently 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.