Castle Hook Partners LP Makes New $91.71 Million Investment in United States Steel Co. (NYSE:X)

Castle Hook Partners LP acquired a new stake in shares of United States Steel Co. (NYSE:X) in the third quarter, Holdings Channel.com reports. The fund acquired 2,595,869 shares of the basic materials company’s stock, valued at approximately $91,712,000. United States Steel comprises about 1.7% of Castle Hook Partners LP’s holdings, making the stock its 15th biggest holding.

Several other large investors have also modified their holdings of X. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in United States Steel by 1.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,422 shares of the basic materials company’s stock valued at $2,241,000 after buying an additional 879 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of United States Steel by 0.7% in the 3rd quarter. D.A. Davidson & CO. now owns 44,450 shares of the basic materials company’s stock valued at $1,570,000 after acquiring an additional 301 shares in the last quarter. Bank of Montreal Can boosted its stake in United States Steel by 16.8% in the 3rd quarter. Bank of Montreal Can now owns 63,203 shares of the basic materials company’s stock worth $2,251,000 after purchasing an additional 9,112 shares during the period. Canton Hathaway LLC purchased a new position in United States Steel during the 3rd quarter worth approximately $72,000. Finally, Dynamic Technology Lab Private Ltd raised its stake in United States Steel by 60.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,769 shares of the basic materials company’s stock valued at $698,000 after purchasing an additional 7,460 shares during the period. 81.92% of the stock is owned by institutional investors.

United States Steel Price Performance

NYSE X opened at $40.45 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $9.11 billion, a PE ratio of 26.61 and a beta of 1.86. United States Steel Co. has a 12-month low of $26.92 and a 12-month high of $50.20. The company has a 50 day moving average price of $38.03 and a two-hundred day moving average price of $37.88.

United States Steel (NYSE:X) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.15. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.77 billion. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. United States Steel’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.36 EPS. As a group, equities analysts predict that United States Steel Co. will post 2.21 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Friday, November 8th. United States Steel’s dividend payout ratio is 13.16%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Jefferies Financial Group decreased their target price on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. upgraded United States Steel from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $40.00 to $42.00 in a research report on Monday, September 9th. BMO Capital Markets dropped their target price on United States Steel from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Morgan Stanley raised their price target on shares of United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, StockNews.com began coverage on shares of United States Steel in a research note on Monday, August 19th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.80.

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.