United States Steel Co. (NYSE:X) Position Lowered by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. lessened its stake in United States Steel Co. (NYSE:X) by 0.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,392,969 shares of the basic materials company’s stock after selling 4,840 shares during the quarter. United States Steel makes up about 4.2% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 4th largest position. Donald Smith & CO. Inc. owned about 1.95% of United States Steel worth $166,054,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in United States Steel in the fourth quarter worth $200,952,000. Massachusetts Financial Services Co. MA increased its position in United States Steel by 4,305.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company’s stock valued at $137,379,000 after acquiring an additional 3,551,870 shares during the last quarter. KRYGER CAPITAL Ltd bought a new position in United States Steel during the fourth quarter valued at $95,529,000. Bank of Nova Scotia bought a new position in United States Steel during the fourth quarter valued at $53,338,000. Finally, Murchinson Ltd. increased its position in 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 during the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on X shares. Jefferies Financial Group cut their price objective on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. StockNews.com started coverage on shares of United States Steel in a research report on Monday, August 19th. They set a “hold” rating on the stock. BMO Capital Markets upgraded shares of United States Steel from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $43.00 to $45.00 in a research report on Wednesday, June 26th. 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 research note on Friday, September 6th. Finally, Morgan Stanley boosted their target price on shares of United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, United States Steel presently has an average rating of “Moderate Buy” and an average price target of $39.76.

United States Steel Stock Up 3.8 %

NYSE:X opened at $36.07 on Monday. United States Steel Co. has a 1-year low of $26.92 and a 1-year high of $50.20. The company has a 50-day moving average of $38.24 and a 200 day moving average of $38.93. The firm has a market cap of $8.11 billion, a PE ratio of 10.58 and a beta of 1.88. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.14.

United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.72 by $0.12. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.01 billion. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The company’s quarterly revenue was down 17.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.92 earnings per share. As a group, research analysts anticipate that United States Steel Co. will post 2.15 EPS for the current fiscal year.

United States Steel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 12th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Monday, August 12th. United States Steel’s payout ratio is 5.87%.

United States Steel 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.