Murchinson Ltd. Has $39.69 Million Stock Holdings in United States Steel Co. (NYSE:X)

Murchinson Ltd. cut its holdings in shares of United States Steel Co. (NYSE:X) by 50.0% during the second quarter, Holdings Channel reports. The fund owned 1,050,000 shares of the basic materials company’s stock after selling 1,050,000 shares during the quarter. United States Steel comprises about 7.3% of Murchinson Ltd.’s holdings, making the stock its 3rd biggest holding. Murchinson Ltd.’s holdings in United States Steel were worth $39,690,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in X. Coldstream Capital Management Inc. bought a new position in United States Steel in the 4th quarter valued at about $238,000. Intech Investment Management LLC acquired a new stake in United States Steel during the 4th quarter worth approximately $489,000. Parallel Advisors LLC boosted its stake in United States Steel by 28.7% in the 4th quarter. Parallel Advisors LLC now owns 1,363 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 304 shares during the period. United Services Automobile Association grew its holdings in United States Steel by 15.5% in the 4th quarter. United Services Automobile Association now owns 17,539 shares of the basic materials company’s stock valued at $853,000 after buying an additional 2,353 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its position in United States Steel by 649.4% during the 4th quarter. Allianz Asset Management GmbH now owns 404,692 shares of the basic materials company’s stock worth $19,688,000 after buying an additional 350,692 shares during the period. Institutional investors own 81.92% of the company’s stock.

Analysts Set New Price Targets

X has been the topic of several research reports. StockNews.com assumed coverage on shares of United States Steel in a research note on Monday, August 19th. They issued a “hold” rating on the stock. BMO Capital Markets raised shares of United States Steel from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $43.00 to $45.00 in a report 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 for the company in a research note on Friday, September 6th. Morgan Stanley lifted their price objective on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $40.00 to $42.00 in a research report on Monday, September 9th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.76.

United States Steel Trading Down 0.9 %

X opened at $38.59 on Tuesday. The company has a market cap of $8.68 billion, a P/E ratio of 11.32 and a beta of 1.88. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $38.09 and its 200-day moving average is $38.51. United States Steel Co. has a 1-year low of $26.92 and a 1-year high of $50.20.

United States Steel (NYSE:X) last issued its earnings results on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.12. The firm had revenue of $4.12 billion for 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%. The company’s quarterly revenue was down 17.8% on a year-over-year basis. During the same quarter last year, the business posted $1.92 earnings per share. Equities research analysts predict that United States Steel Co. will post 2.15 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders 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 yield of 0.52%. United States Steel’s payout ratio is presently 5.87%.

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.