Scopus Asset Management L.P. Purchases 406,600 Shares of United States Steel Corporation (X)

Scopus Asset Management L.P. raised its position in shares of United States Steel Corporation (NYSE:X) by 203.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 206,600 shares of the basic materials company’s stock after buying an additional 406,600 shares during the period. Scopus Asset Management L.P. owned approximately 0.12% of United States Steel Corporation worth $6,985,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in X. Northwestern Mutual Wealth Management Co. raised its position in shares of United States Steel Corporation by 1,971.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,315 shares of the basic materials company’s stock worth $112,000 after buying an additional 3,155 shares during the last quarter. Tyers Asset Management LLC purchased a new position in shares of United States Steel Corporation during the fourth quarter worth about $196,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of United States Steel Corporation during the first quarter worth about $209,000. Acrospire Investment Management LLC raised its position in shares of United States Steel Corporation by 241.1% in the first quarter. Acrospire Investment Management LLC now owns 6,212 shares of the basic materials company’s stock worth $210,000 after buying an additional 4,391 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in United States Steel Corporation by 21.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,301 shares of the basic materials company’s stock valued at $213,000 after buying an additional 1,112 shares in the last quarter. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Shares of United States Steel Corporation (NYSE X) traded down 2.46% on Friday, hitting $21.45. 20,738,888 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $20.78 and its 200 day moving average is $30.22. The firm’s market cap is $3.75 billion. United States Steel Corporation has a 12 month low of $15.72 and a 12 month high of $41.83.

United States Steel Corporation (NYSE:X) last issued its quarterly earnings data on Tuesday, April 25th. The basic materials company reported ($0.83) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $1.18. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.91 billion. United States Steel Corporation had a negative return on equity of 3.48% and a negative net margin of 2.63%. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the company posted ($2.15) earnings per share. On average, equities analysts predict that United States Steel Corporation will post $1.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Wednesday, May 10th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, May 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.93%. United States Steel Corporation’s payout ratio is -12.20%.

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X has been the topic of several recent research reports. Vetr upgraded United States Steel Corporation from a “buy” rating to a “strong-buy” rating and set a $38.76 target price on the stock in a report on Monday, March 27th. J P Morgan Chase & Co restated an “overweight” rating and set a $46.00 target price (up from $39.00) on shares of United States Steel Corporation in a report on Wednesday, March 22nd. Credit Suisse Group raised United States Steel Corporation from a “neutral” rating to an “outperform” rating and raised their price target for the company from $13.68 to $30.00 in a research report on Wednesday, May 24th. Deutsche Bank AG raised their price target on United States Steel Corporation from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, March 21st. Finally, Standpoint Research raised United States Steel Corporation from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, June 7th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.60.

In related news, Director Paul Anthony Mascarenas purchased 1,500 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were purchased at an average price of $19.31 per share, with a total value of $28,965.00. Following the acquisition, the director now directly owns 12,377 shares in the company, valued at approximately $238,999.87. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David Sutherland acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was acquired at an average cost of $19.96 per share, for a total transaction of $199,600.00. Following the acquisition, the director now owns 98,919 shares of the company’s stock, valued at approximately $1,974,423.24. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 14,000 shares of company stock valued at $278,415. 1.00% of the stock is owned by company insiders.

United States Steel Corporation Company Profile

United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).

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

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