GQG Partners LLC Makes New Investment in United States Steel Co. (NYSE:X)

GQG Partners LLC purchased a new position in shares of United States Steel Co. (NYSE:X) during the second quarter, Holdings Channel.com reports. The fund purchased 1,726,312 shares of the basic materials company’s stock, valued at approximately $41,429,000.

A number of other large investors have also modified their holdings of the business. Lincoln National Corp purchased a new stake in shares of United States Steel during the second quarter worth approximately $206,000. California Public Employees Retirement System increased its stake in shares of United States Steel by 9.3% during the second quarter. California Public Employees Retirement System now owns 603,114 shares of the basic materials company’s stock worth $14,475,000 after buying an additional 51,328 shares during the period. LPL Financial LLC increased its stake in shares of United States Steel by 23.8% during the second quarter. LPL Financial LLC now owns 445,908 shares of the basic materials company’s stock worth $10,702,000 after buying an additional 85,759 shares during the period. Stifel Financial Corp increased its stake in shares of United States Steel by 463.2% during the second quarter. Stifel Financial Corp now owns 70,868 shares of the basic materials company’s stock worth $1,701,000 after buying an additional 58,286 shares during the period. Finally, Ensign Peak Advisors Inc increased its stake in shares of United States Steel by 23.6% during the second quarter. Ensign Peak Advisors Inc now owns 201,125 shares of the basic materials company’s stock worth $4,827,000 after buying an additional 38,400 shares during the period. Institutional investors own 67.32% of the company’s stock.

Shares of X stock traded up $1.18 during trading hours on Thursday, hitting $22.63. The stock had a trading volume of 625,827 shares, compared to its average volume of 21,927,623. The firm has a market capitalization of $6.11 billion, a PE ratio of 7.46 and a beta of 2.12. United States Steel Co. has a twelve month low of $8.28 and a twelve month high of $30.57. The stock’s 50 day moving average is $24.96 and its 200 day moving average is $24.62. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.27 and a quick ratio of 0.84.

United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, July 29th. The basic materials company reported $3.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.08 by $0.29. United States Steel had a return on equity of 20.37% and a net margin of 6.75%. The business had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the prior year, the business earned ($2.67) earnings per share. As a group, equities analysts predict that United States Steel Co. will post 11.87 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 9th. Stockholders of record on Monday, August 9th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.18%. The ex-dividend date was Friday, August 6th. United States Steel’s dividend payout ratio (DPR) is presently -0.86%.

X has been the topic of a number of recent research reports. Argus upgraded shares of United States Steel from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Thursday. The Goldman Sachs Group downgraded United States Steel from a “neutral” rating to a “sell” rating and lowered their price target for the company from $34.00 to $21.00 in a report on Wednesday, October 6th. Deutsche Bank Aktiengesellschaft raised United States Steel to a “buy” rating and upped their price target for the company from $38.00 to $50.00 in a report on Wednesday, September 15th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $41.00 price target on shares of United States Steel in a report on Wednesday, June 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, United States Steel currently has an average rating of “Hold” and a consensus price target of $32.44.

United States Steel Profile

United States Steel Corp. engages in the manufacturing and selling of steel products. It operates through the following business segments: Flat-Rolled Products, U.S. Steel Europe, and Tubular Products. The Flat-Rolled Products segment includes managing steel plants and production facilities that manufacture steel slabs, rounds, strip mill plates, sheets, tin mill, iron ore, and coke.

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

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