Highbridge Capital Management LLC Has $9.71 Million Stake in United States Steel Co. (X)

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Highbridge Capital Management LLC grew its position in United States Steel Co. (NYSE:X) by 703.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 276,058 shares of the basic materials company’s stock after acquiring an additional 241,684 shares during the period. Highbridge Capital Management LLC owned about 0.16% of United States Steel worth $9,714,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. American International Group Inc. lifted its stake in shares of United States Steel by 1.1% in the fourth quarter. American International Group Inc. now owns 361,380 shares of the basic materials company’s stock valued at $12,717,000 after purchasing an additional 4,063 shares during the period. Elkfork Partners LLC acquired a new stake in shares of United States Steel in the fourth quarter valued at about $540,000. MUFG Americas Holdings Corp acquired a new stake in shares of United States Steel in the fourth quarter valued at about $289,000. Chemical Bank acquired a new stake in shares of United States Steel in the fourth quarter valued at about $208,000. Finally, California State Teachers Retirement System lifted its stake in shares of United States Steel by 0.7% in the fourth quarter. California State Teachers Retirement System now owns 302,575 shares of the basic materials company’s stock valued at $10,648,000 after purchasing an additional 2,233 shares during the period. 71.39% of the stock is currently owned by institutional investors and hedge funds.

Shares of United States Steel opened at $36.12 on Tuesday, according to MarketBeat. The stock has a market cap of $6.37 billion, a PE ratio of 18.62, a PEG ratio of 0.84 and a beta of 3.03. The company has a quick ratio of 1.02, a current ratio of 1.63 and a debt-to-equity ratio of 0.75. United States Steel Co. has a 12 month low of $20.42 and a 12 month high of $47.64.

United States Steel (NYSE:X) last posted its earnings results on Thursday, April 26th. The basic materials company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. United States Steel had a return on equity of 17.92% and a net margin of 4.62%. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the business earned ($0.83) EPS. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. research analysts predict that United States Steel Co. will post 5.37 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 8th. Shareholders of record on Thursday, May 10th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, May 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. United States Steel’s dividend payout ratio (DPR) is 10.31%.

Several analysts recently commented on X shares. Bank of America upgraded shares of United States Steel from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Friday, April 27th. Citigroup upgraded shares of United States Steel from a “neutral” rating to a “buy” rating and raised their price objective for the company from $18.55 to $47.64 in a research note on Monday, April 2nd. UBS Group reduced their price objective on shares of United States Steel from $30.00 to $28.00 and set a “sell” rating for the company in a research note on Friday, May 11th. Zacks Investment Research cut shares of United States Steel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Finally, Argus restated a “buy” rating and set a $52.00 target price (up previously from $41.00) on shares of United States Steel in a research report on Wednesday, February 21st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $41.17.

In other news, CFO Kevin Bradley bought 10,000 shares of United States Steel stock in a transaction on Tuesday, May 1st. The shares were purchased at an average price of $32.42 per share, for a total transaction of $324,200.00. Following the acquisition, the chief financial officer now owns 93,496 shares of the company’s stock, valued at $3,031,140.32. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Sara A. Greenstein sold 3,607 shares of the company’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $37.50, for a total value of $135,262.50. Following the transaction, the vice president now owns 47,962 shares in the company, valued at approximately $1,798,575. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by corporate insiders.

About United States Steel

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.

Institutional Ownership by Quarter for United States Steel (NYSE:X)

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