Flynn Zito Capital Management LLC Makes New $277,000 Investment in United States Steel Co. (NYSE:X)

Flynn Zito Capital Management LLC bought a new position in shares of United States Steel Co. (NYSE:X) during the 4th quarter, Holdings Channel.com reports. The fund bought 5,685 shares of the basic materials company’s stock, valued at approximately $277,000.

Several other hedge funds also recently made changes to their positions in the business. Third Point LLC bought a new position in shares of United States Steel during the third quarter worth approximately $154,280,000. KGH Ltd increased its holdings in shares of United States Steel by 7.5% during the third quarter. KGH Ltd now owns 4,488,769 shares of the basic materials company’s stock worth $145,795,000 after purchasing an additional 315,000 shares during the period. First Trust Advisors LP increased its holdings in shares of United States Steel by 155.8% during the first quarter. First Trust Advisors LP now owns 3,309,824 shares of the basic materials company’s stock worth $124,913,000 after purchasing an additional 2,015,980 shares during the period. AQR Capital Management LLC increased its holdings in shares of United States Steel by 14.1% during the first quarter. AQR Capital Management LLC now owns 3,305,951 shares of the basic materials company’s stock worth $86,285,000 after purchasing an additional 409,293 shares during the period. Finally, Thompson Siegel & Walmsley LLC increased its holdings in shares of United States Steel by 6.6% during the third quarter. Thompson Siegel & Walmsley LLC now owns 2,618,678 shares of the basic materials company’s stock worth $47,450,000 after purchasing an additional 162,634 shares during the period. 81.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on X shares. Morgan Stanley cut shares of United States Steel from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $40.00 to $51.00 in a report on Thursday, February 15th. StockNews.com started coverage on shares of United States Steel in a research note on Saturday, April 13th. They issued a “hold” rating on the stock. Wolfe Research raised shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective on the stock in a research note on Tuesday, April 9th. JPMorgan Chase & Co. started coverage on shares of United States Steel in a research note on Friday, January 12th. They issued a “neutral” rating and a $52.00 price objective on the stock. Finally, BMO Capital Markets decreased their price objective on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 19th. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $37.89.

United States Steel Stock Performance

Shares of X stock traded down $0.19 during trading on Thursday, reaching $38.94. 3,251,743 shares of the company’s stock traded hands, compared to its average volume of 4,735,425. The company has a market capitalization of $8.75 billion, a P/E ratio of 11.15 and a beta of 2.00. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.37. The firm’s 50-day moving average is $43.56 and its 200 day moving average is $41.15. United States Steel Co. has a 1 year low of $20.40 and a 1 year high of $50.20.

United States Steel (NYSE:X) last posted its earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.46. The business had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $3.73 billion. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.87 EPS. Equities research analysts expect that United States Steel Co. will post 3.15 EPS for the current year.

United States Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 12th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Friday, February 9th. United States Steel’s dividend payout ratio is currently 5.70%.

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.