United States Steel Corporation (X) Stake Boosted by Scopus Asset Management L.P.

Scopus Asset Management L.P. boosted its position in United States Steel Corporation (NYSE:X) by 203.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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.

Other hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its position in 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 valued at $112,000 after buying an additional 3,155 shares during the last quarter. Tyers Asset Management LLC bought a new position in United States Steel Corporation during the fourth quarter valued at about $196,000. Dynamic Technology Lab Private Ltd bought a new position in United States Steel Corporation during the first quarter valued at about $209,000. Acrospire Investment Management LLC increased its position in 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 valued at $210,000 after buying an additional 4,391 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 during the last quarter. 70.75% of the stock is currently owned by hedge funds and other institutional investors.

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

United States Steel Corporation (X) traded up 3.17% during midday trading on Monday, reaching $20.80. 20,560,297 shares of the company traded hands. The firm’s market capitalization is $3.63 billion. United States Steel Corporation has a 12 month low of $14.80 and a 12 month high of $41.83. The company’s 50-day moving average price is $20.74 and its 200 day moving average price is $31.06.

United States Steel Corporation (NYSE:X) last posted its earnings results on Tuesday, April 25th. The basic materials company reported ($0.83) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by $1.18. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates 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 period last year, the company posted ($2.15) EPS. On average, equities analysts anticipate that United States Steel Corporation will post $1.06 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Wednesday, May 10th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.96%. The ex-dividend date was Monday, May 8th. United States Steel Corporation’s dividend payout ratio (DPR) is -12.20%.

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Several equities analysts have issued reports on the stock. Vetr downgraded shares of United States Steel Corporation from a “sell” rating to a “strong sell” rating and set a $31.06 price objective on the stock. in a report on Monday, February 27th. Cowen and Company raised shares of United States Steel Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, February 27th. Axiom Securities reaffirmed a “sell” rating on shares of United States Steel Corporation in a report on Friday, March 3rd. Deutsche Bank AG increased their price objective on shares of United States Steel Corporation from $40.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, March 21st. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $35.00 price objective on shares of United States Steel Corporation in a report on Monday, February 27th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $29.49.

In other news, Director Paul Anthony Mascarenas acquired 1,500 shares of the stock in a transaction on Thursday, May 18th. The stock was bought at an average price of $19.31 per share, with a total value of $28,965.00. Following the completion of the transaction, the director now directly owns 12,377 shares of the company’s stock, valued at $238,999.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Sutherland acquired 10,000 shares of the stock in a transaction on Friday, May 12th. The stock was purchased at an average cost of $19.96 per share, with a total value of $199,600.00. Following the transaction, the director now directly owns 98,919 shares of the company’s stock, valued at $1,974,423.24. The disclosure for this purchase can be found here. Insiders acquired 14,000 shares of company stock valued at $278,415 in the last ninety days. 1.00% of the stock is owned by corporate insiders.

About United States Steel Corporation

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).

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