Discovery Capital Management LLC CT Raises Stake in United States Steel Co. (NYSE:X)

Discovery Capital Management LLC CT increased its position in shares of United States Steel Co. (NYSE:X) by 488.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 556,800 shares of the basic materials company’s stock after purchasing an additional 462,100 shares during the period. United States Steel accounts for approximately 1.3% of Discovery Capital Management LLC CT’s portfolio, making the stock its 25th largest position. Discovery Capital Management LLC CT owned 0.25% of United States Steel worth $18,926,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in United States Steel in the fourth quarter valued at $130,731,000. Holocene Advisors LP acquired a new position in United States Steel during the third quarter worth approximately $51,620,000. Turiya Advisors Asia Ltd purchased a new stake in United States Steel in the fourth quarter valued at approximately $19,384,000. E. Ohman J or Asset Management AB purchased a new stake in United States Steel in the fourth quarter valued at approximately $17,907,000. Finally, ARS Investment Partners LLC acquired a new stake in shares of United States Steel in the fourth quarter valued at approximately $15,510,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on X shares. BMO Capital Markets reiterated a “market perform” rating and issued a $45.00 price target on shares of United States Steel in a research report on Monday. Bank of America initiated coverage on shares of United States Steel in a report on Monday, January 6th. They issued a “neutral” rating and a $35.00 target price for the company. JPMorgan Chase & Co. boosted their price target on United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. Morgan Stanley increased their price objective on United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday, March 7th. Finally, Jefferies Financial Group dropped their target price on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, United States Steel currently has an average rating of “Moderate Buy” and a consensus price target of $41.32.

United States Steel Trading Down 1.6 %

Shares of X stock opened at $42.30 on Tuesday. The business’s fifty day moving average price is $38.64 and its 200 day moving average price is $37.26. The firm has a market capitalization of $9.58 billion, a PE ratio of 28.39, a P/E/G ratio of 1.53 and a beta of 1.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91. United States Steel Co. has a 1-year low of $26.92 and a 1-year high of $44.87.

United States Steel (NYSE:X) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. As a group, sell-side analysts forecast that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, February 10th. United States Steel’s dividend payout ratio (DPR) is 13.42%.

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.