Intech Investment Management LLC Invests $2.99 Million in United States Steel Co. (NYSE:X)

Intech Investment Management LLC bought a new stake in shares of United States Steel Co. (NYSE:X) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 79,152 shares of the basic materials company’s stock, valued at approximately $2,992,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Rothschild Investment LLC acquired a new stake in shares of United States Steel during the second quarter valued at about $26,000. Riverview Trust Co purchased a new stake in United States Steel during the 1st quarter worth approximately $29,000. Blue Trust Inc. raised its position in shares of 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 purchasing an additional 773 shares in the last quarter. Pineridge Advisors LLC acquired a new position in shares of United States Steel in the 4th quarter valued at approximately $44,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of United States Steel during the 2nd quarter valued at approximately $46,000. 81.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

X has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded shares of United States Steel from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $40.00 to $42.00 in a research note on Monday, September 9th. BMO Capital Markets upgraded shares of United States Steel from a “market perform” rating to an “outperform” rating and upped their target price for the company from $43.00 to $45.00 in a research note on Wednesday, June 26th. Jefferies Financial Group decreased their price target on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Glj Research upgraded United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective on the stock in a research note on Monday, September 9th. Finally, BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 target price for the company in a research report on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, United States Steel currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.76.

United States Steel Trading Up 2.3 %

NYSE:X opened at $38.96 on Monday. United States Steel Co. has a 1 year low of $26.92 and a 1 year high of $50.20. The business has a fifty day moving average of $38.09 and a 200-day moving average of $38.57. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.72. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 11.43 and a beta of 1.88.

United States Steel (NYSE:X) last released its earnings results on Thursday, August 1st. The basic materials company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.72 by $0.12. The firm had revenue of $4.12 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company earned $1.92 EPS. Equities analysts predict that United States Steel Co. will post 2.15 earnings per share for the current year.

United States Steel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 12th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Monday, August 12th. 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.