Levin Capital Strategies L.P. Purchases 36,750 Shares of United States Steel Co. (NYSE:X)

Levin Capital Strategies L.P. increased its position in shares of United States Steel Co. (NYSE:X) by 288.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,500 shares of the basic materials company’s stock after buying an additional 36,750 shares during the period. Levin Capital Strategies L.P.’s holdings in United States Steel were worth $1,871,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in United States Steel in the fourth quarter worth approximately $200,952,000. KRYGER CAPITAL Ltd bought a new position in United States Steel in the fourth quarter worth about $95,529,000. Bank of Nova Scotia acquired a new stake in shares of United States Steel in the 4th quarter worth $53,338,000. ING Groep NV acquired a new stake in United States Steel in the fourth quarter worth about $49,769,000. Finally, Murchinson Ltd. increased its holdings in shares of United States Steel by 66.5% during the first quarter. Murchinson Ltd. now owns 2,100,000 shares of the basic materials company’s stock valued at $85,638,000 after acquiring an additional 838,653 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors.

United States Steel Price Performance

X stock opened at $32.82 on Tuesday. United States Steel Co. has a 1 year low of $26.92 and a 1 year high of $50.20. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.14. The firm has a market capitalization of $7.38 billion, a PE ratio of 9.62 and a beta of 1.88. The business has a 50 day simple moving average of $38.64 and a 200-day simple moving average of $39.32.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the firm earned $1.92 EPS. The business’s revenue was down 17.8% compared to the same quarter last year. Equities research analysts anticipate that United States Steel Co. will post 2.19 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.61%. United States Steel’s dividend payout ratio is presently 5.87%.

Analyst Ratings Changes

X has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $42.00 in a report on Monday. BMO Capital Markets upgraded United States Steel from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $43.00 to $45.00 in a research note on Wednesday, June 26th. Jefferies Financial Group reduced their price objective on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. StockNews.com assumed coverage on shares of United States Steel in a research report on Monday, August 19th. They set a “hold” rating for the company. Finally, BNP Paribas raised shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Friday. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, United States Steel has a consensus rating of “Moderate Buy” and an average price target of $39.76.

United States Steel Company Profile

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.