United States Steel Co. (NYSE:X) Stock Position Raised by Water Island Capital LLC

Water Island Capital LLC boosted its position in shares of United States Steel Co. (NYSE:X) by 5.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 906,092 shares of the basic materials company’s stock after purchasing an additional 45,567 shares during the period. United States Steel accounts for 3.6% of Water Island Capital LLC’s investment portfolio, making the stock its 11th biggest holding. Water Island Capital LLC’s holdings in United States Steel were worth $34,250,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in X. Rothschild Investment LLC acquired a new stake in shares of United States Steel during the 2nd quarter valued at $26,000. Riverview Trust Co purchased a new position in United States Steel in the first quarter valued at about $29,000. Pineridge Advisors LLC acquired a new position in United States Steel in the 4th quarter worth about $44,000. Blue Trust Inc. raised its stake in shares of United States Steel by 339.0% during the 2nd quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 773 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in shares of United States Steel during the 4th quarter valued at about $49,000. 81.92% of the stock is owned by institutional investors and hedge funds.

United States Steel Price Performance

Shares of United States Steel stock opened at $35.62 on Monday. The firm has a fifty day moving average price of $38.00 and a two-hundred day moving average price of $38.29. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week high of $50.20. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.14. The company has a market cap of $8.01 billion, a PE ratio of 10.45 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.01 billion. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The firm’s revenue for the quarter was down 17.8% compared to the same quarter last year. During the same period last year, the business earned $1.92 earnings per share. Analysts expect that United States Steel Co. will post 2.18 EPS for the current year.

United States Steel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 12th were paid 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 0.56%. United States Steel’s payout ratio is 5.87%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. 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 report on Monday, September 9th. Morgan Stanley upped their price target on United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. StockNews.com began 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 boosted their target price for the stock from $43.00 to $45.00 in a research report on Wednesday, June 26th. Finally, Jefferies Financial Group decreased their price target on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.62.

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.