Murchinson Ltd. Sells 654,300 Shares of United States Steel Co. (NYSE:X)

Murchinson Ltd. lowered its position in shares of United States Steel Co. (NYSE:X) by 38.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,045,700 shares of the basic materials company’s stock after selling 654,300 shares during the quarter. United States Steel comprises 10.0% of Murchinson Ltd.’s holdings, making the stock its 2nd biggest position. Murchinson Ltd. owned 0.46% of United States Steel worth $36,945,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on X. BNP Paribas raised shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research note on Friday, September 6th. BMO Capital Markets dropped 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. Glj Research upgraded United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price on the stock in a research report 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 for the company. Finally, JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $42.00 in a report on Monday, September 9th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.80.

United States Steel Stock Performance

NYSE X opened at $37.67 on Wednesday. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 24.78 and a beta of 1.83. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35. United States Steel Co. has a twelve month low of $26.92 and a twelve month high of $50.20. The stock has a fifty day simple moving average of $38.16 and a 200 day simple moving average of $37.95.

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

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.53%. The ex-dividend date is Friday, November 8th. United States Steel’s dividend payout ratio (DPR) is presently 13.16%.

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.