Picton Mahoney Asset Management Purchases Shares of 250,000 United States Steel Co. (NYSE:X)

Picton Mahoney Asset Management bought a new stake in shares of United States Steel Co. (NYSE:X) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 250,000 shares of the basic materials company’s stock, valued at approximately $12,162,000. Picton Mahoney Asset Management owned approximately 0.11% of United States Steel as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in X. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of United States Steel in the 4th quarter valued at $25,000. GAMMA Investing LLC acquired a new position in United States Steel in the fourth quarter valued at about $33,000. Wolff Wiese Magana LLC grew its stake in United States Steel by 181.4% during the third quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company’s stock worth $32,000 after buying an additional 635 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in shares of United States Steel during the fourth quarter worth approximately $53,000. Finally, Fifth Third Bancorp raised its stake in shares of United States Steel by 60.8% in the third quarter. Fifth Third Bancorp now owns 1,270 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 480 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

United States Steel Stock Up 0.2 %

Shares of X stock traded up $0.09 on Tuesday, hitting $38.13. 2,022,821 shares of the stock were exchanged, compared to its average volume of 4,519,278. The business has a 50-day moving average of $41.11 and a 200 day moving average of $41.66. United States Steel Co. has a fifty-two week low of $20.40 and a fifty-two week high of $50.20. The firm has a market capitalization of $8.57 billion, a P/E ratio of 11.18 and a beta of 2.06. The company has a current ratio of 1.71, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

United States Steel Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Morgan Stanley raised 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. Wolfe Research upgraded shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective for the company in a research report on Tuesday, April 9th. StockNews.com started coverage on United States Steel in a research report on Tuesday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. dropped their target price on United States Steel from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday. Finally, BMO Capital Markets decreased their price target on United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a report on Tuesday, March 19th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, United States Steel currently has an average rating of “Hold” and a consensus price target 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.