Gladius Capital Management LP Acquires Shares of 1,103 United States Steel Co. (NYSE:X)

Gladius Capital Management LP bought a new position in shares of United States Steel Co. (NYSE:X) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,103 shares of the basic materials company’s stock, valued at approximately $39,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Natixis Advisors LLC raised its stake in United States Steel by 4.9% during the 3rd quarter. Natixis Advisors LLC now owns 31,284 shares of the basic materials company’s stock valued at $1,105,000 after acquiring an additional 1,455 shares during the last quarter. Towerview LLC raised its stake in shares of United States Steel by 18.2% during the third quarter. Towerview LLC now owns 65,000 shares of the basic materials company’s stock worth $2,296,000 after purchasing an additional 10,000 shares during the last quarter. KBC Group NV lifted its holdings in shares of United States Steel by 12.0% during the third quarter. KBC Group NV now owns 5,580 shares of the basic materials company’s stock worth $197,000 after purchasing an additional 596 shares during the period. Oppenheimer & Co. Inc. purchased a new position in United States Steel in the 3rd quarter valued at $608,000. Finally, Verus Capital Partners LLC increased its stake in United States Steel by 88.6% in the 3rd quarter. Verus Capital Partners LLC now owns 28,940 shares of the basic materials company’s stock valued at $1,022,000 after buying an additional 13,594 shares during the period. Institutional investors and hedge funds own 81.92% of the company’s stock.

United States Steel Price Performance

Shares of NYSE:X opened at $35.83 on Friday. United States Steel Co. has a one year low of $26.92 and a one year high of $50.20. The stock has a market cap of $8.07 billion, a PE ratio of 23.57 and a beta of 1.86. The business’s fifty day moving average price is $37.31 and its two-hundred day moving average price is $37.78. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.08 and a current ratio of 1.67.

United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.15. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.77 billion. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The firm’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period last year, the company earned $1.36 EPS. On average, analysts forecast that United States Steel Co. will post 2.21 EPS for the current fiscal year.

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 11th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Friday, November 8th. United States Steel’s dividend payout ratio (DPR) is 13.16%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on X shares. Glj Research raised shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price on the stock in a report on Monday, September 9th. StockNews.com initiated coverage on United States Steel in a research note on Monday, August 19th. They set a “hold” rating for the company. BNP Paribas raised United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a report on Friday, September 6th. Morgan Stanley raised their target price on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, Jefferies Financial Group cut their price target on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a report on Thursday, September 5th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, United States Steel presently has an average rating of “Moderate Buy” and an average price target of $42.80.

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.