Quest Partners LLC Acquires 13,849 Shares of United States Steel Co. (NYSE:X)

Quest Partners LLC increased its holdings in shares of United States Steel Co. (NYSE:X) by 103.4% during the third quarter, HoldingsChannel.com reports. The fund owned 27,248 shares of the basic materials company’s stock after buying an additional 13,849 shares during the quarter. Quest Partners LLC’s holdings in United States Steel were worth $963,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Gladius Capital Management LP purchased a new stake in United States Steel in the third quarter worth $39,000. Natixis Advisors LLC increased its position in United States Steel by 4.9% in the third quarter. Natixis Advisors LLC now owns 31,284 shares of the basic materials company’s stock worth $1,105,000 after buying an additional 1,455 shares during the last quarter. Towerview LLC increased its position in United States Steel by 18.2% in the third quarter. Towerview LLC now owns 65,000 shares of the basic materials company’s stock worth $2,296,000 after buying an additional 10,000 shares during the last quarter. KBC Group NV increased its position in United States Steel by 12.0% in the third quarter. KBC Group NV now owns 5,580 shares of the basic materials company’s stock worth $197,000 after buying an additional 596 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in United States Steel in the third quarter worth $608,000. 81.92% of the stock is currently owned by institutional investors.

United States Steel Price Performance

NYSE:X opened at $38.38 on Thursday. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of 25.25 and a beta of 1.86. United States Steel Co. has a 52-week low of $26.92 and a 52-week high of $50.20. The stock has a fifty day moving average of $37.56 and a 200 day moving average of $37.82. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.08 and a current ratio of 1.67.

United States Steel (NYSE:X) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.15. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.77 billion. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The firm’s quarterly revenue was down 13.0% on a year-over-year basis. During the same quarter last year, the company earned $1.36 earnings per share. On average, research analysts expect that United States Steel Co. will post 2.21 EPS for the current fiscal year.

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 11th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Friday, November 8th. United States Steel’s dividend payout ratio is 13.16%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. StockNews.com initiated coverage on United States Steel in a research report on Monday, August 19th. They issued a “hold” rating for the company. Morgan Stanley lifted their price target 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. Glj Research upgraded United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price target for the company in a research report on Monday, September 9th. JPMorgan Chase & Co. upgraded United States Steel from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $42.00 in a research report on Monday, September 9th. Finally, Jefferies Financial Group reduced their price target on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, United States Steel presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.80.

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.