Holocene Advisors LP Takes $51.62 Million Position in United States Steel Co. (NYSE:X)

Holocene Advisors LP bought a new stake in United States Steel Co. (NYSE:X) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,461,077 shares of the basic materials company’s stock, valued at approximately $51,620,000. Holocene Advisors LP owned about 0.65% of United States Steel as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of United States Steel by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,600,708 shares of the basic materials company’s stock valued at $91,883,000 after acquiring an additional 28,293 shares in the last quarter. Water Island Capital LLC raised its position in shares of United States Steel by 5.3% in the second quarter. Water Island Capital LLC now owns 906,092 shares of the basic materials company’s stock valued at $34,250,000 after purchasing an additional 45,567 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of United States Steel in the third quarter worth $608,000. Rockefeller Capital Management L.P. lifted its stake in shares of United States Steel by 646.0% in the third quarter. Rockefeller Capital Management L.P. now owns 506,694 shares of the basic materials company’s stock worth $17,902,000 after buying an additional 438,771 shares during the last quarter. Finally, KGH Ltd boosted its holdings in shares of United States Steel by 68.2% during the 2nd quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock worth $160,839,000 after buying an additional 1,724,670 shares during the period. 81.92% of the stock is owned by institutional investors.

United States Steel Stock Performance

X opened at $40.94 on Tuesday. The stock has a market cap of $9.22 billion, a PE ratio of 26.93 and a beta of 1.83. United States Steel Co. has a 1 year low of $26.92 and a 1 year high of $50.20. The stock’s 50 day simple moving average is $38.16 and its 200-day simple moving average is $37.94. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the company posted $1.36 EPS. The business’s revenue was down 13.0% on a year-over-year basis. Sell-side analysts forecast that United States Steel Co. will post 2.21 EPS for the current year.

United States Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders 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 yield of 0.49%. The ex-dividend date of this dividend is Friday, November 8th. United States Steel’s payout ratio is 13.16%.

Analyst Upgrades and Downgrades

X has been the topic of several recent analyst reports. BNP Paribas upgraded shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Friday, September 6th. Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective for the company in a research report on Monday, September 9th. BMO Capital Markets lowered 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. StockNews.com began coverage on United States Steel in a research report on Monday, August 19th. They issued a “hold” rating on the stock. Finally, Morgan Stanley raised their price objective on shares of United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, United States Steel has a consensus 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.