Castle Hook Partners LP Invests $91.71 Million in United States Steel Co. (NYSE:X)

Castle Hook Partners LP bought a new stake in shares of United States Steel Co. (NYSE:X) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,595,869 shares of the basic materials company’s stock, valued at approximately $91,712,000. United States Steel makes up 1.7% of Castle Hook Partners LP’s portfolio, making the stock its 15th biggest position. Castle Hook Partners LP owned about 1.15% of United States Steel as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in X. Vanguard Personalized Indexing Management LLC raised its stake in shares of United States Steel by 0.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,880 shares of the basic materials company’s stock valued at $1,016,000 after purchasing an additional 241 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in United States Steel by 9.2% in the third quarter. Rakuten Securities Inc. now owns 3,328 shares of the basic materials company’s stock worth $118,000 after acquiring an additional 279 shares during the last quarter. Founders Capital Management boosted its stake in United States Steel by 9.4% in the third quarter. Founders Capital Management now owns 3,500 shares of the basic materials company’s stock valued at $124,000 after acquiring an additional 300 shares during the period. D.A. Davidson & CO. grew its holdings in shares of United States Steel by 0.7% during the third quarter. D.A. Davidson & CO. now owns 44,450 shares of the basic materials company’s stock valued at $1,570,000 after purchasing an additional 301 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its position in shares of United States Steel by 1.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 18,635 shares of the basic materials company’s stock worth $658,000 after purchasing an additional 306 shares during the period. 81.92% of the stock is owned by hedge funds and other institutional investors.

United States Steel Stock Up 2.1 %

United States Steel stock opened at $40.45 on Thursday. The company’s 50-day moving average price is $38.03 and its two-hundred day moving average price is $37.88. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of 26.61 and a beta of 1.86. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $50.20. 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 earnings results on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.41 by $0.15. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.77 billion. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The firm’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.36 earnings per share. On average, analysts expect that United States Steel Co. will post 2.21 EPS for the current fiscal year.

United States Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.49%. United States Steel’s dividend payout ratio (DPR) is 13.16%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on X shares. JPMorgan Chase & Co. upgraded United States Steel from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $40.00 to $42.00 in a research note on Monday, September 9th. StockNews.com initiated coverage on shares of United States Steel in a report on Monday, August 19th. They issued a “hold” rating on the stock. Glj Research raised shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price for the company in a research note on Monday, September 9th. Morgan Stanley raised their price target on shares of United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Finally, BMO Capital Markets reduced their price objective on United States Steel from $45.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, United States Steel presently has a consensus rating of “Moderate Buy” and an average target price of $42.80.

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.