Towerview LLC Acquires 10,000 Shares of United States Steel Co. (NYSE:X)

Towerview LLC lifted its holdings in United States Steel Co. (NYSE:X) by 18.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,000 shares of the basic materials company’s stock after purchasing an additional 10,000 shares during the quarter. United States Steel accounts for approximately 1.5% of Towerview LLC’s investment portfolio, making the stock its 12th biggest holding. Towerview LLC’s holdings in United States Steel were worth $2,296,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Water Island Capital LLC increased its holdings in United States Steel by 5.3% during the second quarter. Water Island Capital LLC now owns 906,092 shares of the basic materials company’s stock worth $34,250,000 after buying an additional 45,567 shares during the last quarter. KGH Ltd increased its holdings in United States Steel by 68.2% during the second quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock worth $160,839,000 after buying an additional 1,724,670 shares during the last quarter. Verus Capital Partners LLC increased its holdings in United States Steel by 88.6% during the third quarter. Verus Capital Partners LLC now owns 28,940 shares of the basic materials company’s stock worth $1,022,000 after buying an additional 13,594 shares during the last quarter. Janus Henderson Group PLC increased its holdings in United States Steel by 94.3% during the first quarter. Janus Henderson Group PLC now owns 211,043 shares of the basic materials company’s stock worth $8,601,000 after buying an additional 102,450 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in United States Steel by 146.4% during the first quarter. Gamco Investors INC. ET AL now owns 26,000 shares of the basic materials company’s stock worth $1,060,000 after buying an additional 15,450 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

United States Steel Stock Performance

Shares of X stock traded down $0.19 on Thursday, hitting $37.62. The company’s stock had a trading volume of 978,715 shares, compared to its average volume of 4,391,793. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.08 and a current ratio of 1.67. The stock’s 50 day moving average is $37.09 and its 200-day moving average is $37.80. 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 market capitalization of $8.47 billion, a PE ratio of 24.34 and a beta of 1.86.

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

United States Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 11th will be paid a $0.05 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.53%. United States Steel’s dividend payout ratio (DPR) is presently 13.16%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on X shares. StockNews.com started coverage on shares of United States Steel in a report on Monday, August 19th. They set a “hold” rating on the stock. Morgan Stanley upped their price objective on shares of United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Glj Research upgraded shares of 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. JPMorgan Chase & Co. upgraded shares of United States Steel from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $42.00 in a report on Monday, September 9th. Finally, BNP Paribas upgraded shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a report on Friday, September 6th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.