International Assets Investment Management LLC Acquires 4,102 Shares of United States Steel Co. (NYSE:X)

International Assets Investment Management LLC grew its stake in United States Steel Co. (NYSE:X) by 48.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,569 shares of the basic materials company’s stock after purchasing an additional 4,102 shares during the period. International Assets Investment Management LLC’s holdings in United States Steel were worth $475,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Gabelli Funds LLC increased its position in shares of United States Steel by 436.4% during the 4th quarter. Gabelli Funds LLC now owns 214,300 shares of the basic materials company’s stock worth $10,426,000 after purchasing an additional 174,350 shares in the last quarter. Third Point LLC raised its stake in shares of United States Steel by 15.8% in the fourth quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock valued at $267,575,000 after acquiring an additional 750,000 shares during the last quarter. Weiss Asset Management LP acquired a new position in shares of United States Steel in the 4th quarter worth approximately $6,408,000. Janus Henderson Group PLC boosted its holdings in shares of United States Steel by 94.3% in the 1st quarter. Janus Henderson Group PLC now owns 211,043 shares of the basic materials company’s stock worth $8,601,000 after acquiring an additional 102,450 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in United States Steel during the 4th quarter worth approximately $219,000. 81.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on X. BMO Capital Markets upgraded United States Steel from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $43.00 to $45.00 in a research report on Wednesday, June 26th. JPMorgan Chase & Co. decreased their price objective on shares of United States Steel from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. StockNews.com started coverage on shares of United States Steel in a research note on Monday, August 19th. They issued a “hold” rating for the company. Jefferies Financial Group started coverage on shares of United States Steel in a research note on Monday, May 20th. They set a “buy” rating and a $45.00 price target on the stock. Finally, Morgan Stanley boosted 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 report on Thursday, August 15th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $40.13.

United States Steel Price Performance

Shares of X stock opened at $37.87 on Friday. The firm’s 50 day moving average price is $39.13 and its two-hundred day moving average price is $39.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.72. United States Steel Co. has a 52-week low of $30.02 and a 52-week high of $50.20. The stock has a market cap of $8.52 billion, a PE ratio of 11.11 and a beta of 1.93.

United States Steel (NYSE:X) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.12. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.01 billion. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The firm’s revenue was down 17.8% on a year-over-year basis. During the same period last year, the company earned $1.92 EPS. As a group, analysts forecast that United States Steel Co. will post 2.19 EPS for the current year.

United States Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Monday, August 12th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Monday, August 12th. United States Steel’s dividend payout ratio (DPR) is presently 5.87%.

United States Steel Company 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.