Wolverine Asset Management LLC Makes New Investment in United States Steel Co. (NYSE:X)

Wolverine Asset Management LLC bought a new position in United States Steel Co. (NYSE:X) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,696 shares of the basic materials company’s stock, valued at approximately $1,007,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. D.A. Davidson & CO. lifted its stake in shares of United States Steel by 0.9% in the third quarter. D.A. Davidson & CO. now owns 32,770 shares of the basic materials company’s stock worth $1,064,000 after buying an additional 307 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in United States Steel by 4.2% during the third quarter. PNC Financial Services Group Inc. now owns 10,969 shares of the basic materials company’s stock valued at $356,000 after purchasing an additional 444 shares during the period. Fifth Third Bancorp lifted its position in United States Steel by 60.8% during the third quarter. Fifth Third Bancorp now owns 1,270 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 480 shares during the period. Wolff Wiese Magana LLC lifted its position in United States Steel by 181.4% during the third quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 635 shares during the period. Finally, Arizona State Retirement System lifted its position in United States Steel by 1.0% during the third quarter. Arizona State Retirement System now owns 64,479 shares of the basic materials company’s stock valued at $2,094,000 after purchasing an additional 664 shares during the period. Institutional investors own 81.92% of the company’s stock.

Wall Street Analysts Forecast Growth

X has been the topic of a number of research analyst reports. Wolfe Research upgraded shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective on the stock in a research report on Tuesday, April 9th. StockNews.com initiated coverage on shares of United States Steel in a research report on Sunday, April 21st. They issued a “hold” rating on the stock. JPMorgan Chase & Co. initiated coverage on shares of United States Steel in a research report on Friday, January 12th. They issued a “neutral” rating and a $52.00 price target on the stock. Morgan Stanley downgraded shares of United States Steel from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $40.00 to $51.00 in a research report on Thursday, February 15th. Finally, BMO Capital Markets decreased their price target on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 19th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $37.89.

United States Steel Price Performance

X stock opened at $37.17 on Friday. United States Steel Co. has a 52 week low of $20.40 and a 52 week high of $50.20. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.37. The company has a fifty day simple moving average of $42.61 and a two-hundred day simple moving average of $41.30. The firm has a market capitalization of $8.36 billion, a P/E ratio of 10.59 and a beta of 2.00.

United States Steel (NYSE:X) last released its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.21 by $0.46. The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.73 billion. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. United States Steel’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.87 earnings per share. Analysts anticipate that United States Steel Co. will post 2.99 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 12th were issued a $0.05 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. United States Steel’s dividend payout ratio (DPR) is presently 5.70%.

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.