250,000 Shares in United States Steel Co. (NYSE:X) Bought by Picton Mahoney Asset Management

Picton Mahoney Asset Management acquired a new stake in shares of United States Steel Co. (NYSE:X) during the 4th quarter, HoldingsChannel reports. The firm acquired 250,000 shares of the basic materials company’s stock, valued at approximately $12,162,000.

A number of other hedge funds have also recently bought and sold shares of X. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of United States Steel in the fourth quarter valued at about $25,000. GAMMA Investing LLC bought a new stake in United States Steel in the 4th quarter worth about $33,000. Wolff Wiese Magana LLC increased its stake in United States Steel by 181.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company’s stock valued at $32,000 after buying an additional 635 shares during the last quarter. Rakuten Securities Inc. bought a new position in shares of United States Steel during the 4th quarter worth approximately $53,000. Finally, Fifth Third Bancorp boosted its stake in shares of United States Steel by 60.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,270 shares of the basic materials company’s stock worth $41,000 after buying an additional 480 shares during the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

United States Steel Stock Performance

United States Steel stock traded up $0.09 during midday trading on Tuesday, reaching $38.13. The stock had a trading volume of 2,022,821 shares, compared to its average volume of 4,519,278. The company has a quick ratio of 1.14, a current ratio of 1.71 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $8.57 billion, a PE ratio of 11.18 and a beta of 2.06. United States Steel Co. has a 12 month low of $20.40 and a 12 month high of $50.20. The firm’s 50-day moving average price is $41.11 and its 200 day moving average price is $41.66.

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Monday, May 13th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Friday, May 10th. United States Steel’s payout ratio is currently 5.87%.

Analysts Set New Price Targets

X has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on United States Steel from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday. BMO Capital Markets decreased their target price on United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a research report on Tuesday, March 19th. Wolfe Research raised shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a report on Tuesday, April 9th. Morgan Stanley upgraded shares of United States Steel from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $51.00 to $48.00 in a report on Monday. Finally, StockNews.com began coverage on shares of United States Steel in a research note on Tuesday. They issued a “hold” rating on the stock. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, United States Steel currently has a consensus rating of “Hold” and a consensus target price of $38.00.

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.