Verus Capital Partners LLC Has $1.02 Million Stock Holdings in United States Steel Co. (NYSE:X)

Verus Capital Partners LLC boosted its stake in United States Steel Co. (NYSE:X) by 88.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 28,940 shares of the basic materials company’s stock after buying an additional 13,594 shares during the period. Verus Capital Partners LLC’s holdings in United States Steel were worth $1,022,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of X. Donald Smith & CO. Inc. boosted its holdings in shares of United States Steel by 7.4% during the third quarter. Donald Smith & CO. Inc. now owns 4,719,845 shares of the basic materials company’s stock worth $166,752,000 after acquiring an additional 326,876 shares during the period. KGH Ltd lifted its holdings in United States Steel by 68.2% during the 2nd quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock worth $160,839,000 after purchasing an additional 1,724,670 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in United States Steel by 4,305.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company’s stock valued at $137,379,000 after purchasing an additional 3,551,870 shares during the period. Alpine Associates Management Inc. grew its holdings in United States Steel by 13.5% in the 2nd quarter. Alpine Associates Management Inc. now owns 2,667,932 shares of the basic materials company’s stock valued at $100,848,000 after buying an additional 316,800 shares in the last quarter. Finally, Murchinson Ltd. increased its position in United States Steel by 66.5% during the 1st quarter. Murchinson Ltd. now owns 2,100,000 shares of the basic materials company’s stock worth $85,638,000 after buying an additional 838,653 shares during the period. Institutional investors and hedge funds own 81.92% of the company’s stock.

United States Steel Stock Performance

NYSE X opened at $40.26 on Tuesday. The firm’s 50 day simple moving average is $36.83 and its 200 day simple moving average is $37.78. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of 26.49 and a beta of 1.86. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35. 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 announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.15. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.77 billion. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. United States Steel’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.36 EPS. As a group, research analysts expect that United States Steel Co. will post 2.17 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, November 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.50%. United States Steel’s dividend payout ratio (DPR) is presently 13.16%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on X. JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $40.00 to $42.00 in a research report on Monday, September 9th. BMO Capital Markets decreased their target price on shares of United States Steel from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Glj Research raised shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price on the stock in a report on Monday, September 9th. StockNews.com initiated coverage on United States Steel in a research note on Monday, August 19th. They issued a “hold” rating for the company. Finally, BNP Paribas raised United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Friday, September 6th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $42.80.

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.