Segantii Capital Management Ltd Invests $68.84 Million in United States Steel Co. (NYSE:X)

Segantii Capital Management Ltd bought a new stake in United States Steel Co. (NYSE:X) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,415,000 shares of the basic materials company’s stock, valued at approximately $68,840,000. United States Steel comprises about 3.6% of Segantii Capital Management Ltd’s portfolio, making the stock its 5th biggest position.

A number of other large investors have also added to or reduced their stakes in X. Third Point LLC purchased a new stake in United States Steel during the 3rd quarter valued at about $154,280,000. Laurion Capital Management LP bought a new position in shares of United States Steel in the third quarter worth approximately $50,912,000. International Assets Investment Management LLC increased its stake in shares of United States Steel by 4,057.9% in the fourth quarter. International Assets Investment Management LLC now owns 747,553 shares of the basic materials company’s stock worth $36,368,000 after buying an additional 729,574 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in United States Steel during the 4th quarter valued at $22,034,000. Finally, Donald Smith & CO. Inc. grew its stake in shares of United States Steel by 11.0% in the fourth quarter. Donald Smith & CO. Inc. now owns 4,513,531 shares of the basic materials company’s stock worth $219,583,000 after purchasing an additional 447,186 shares during the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

United States Steel Stock Performance

United States Steel stock traded down $0.13 during midday trading on Thursday, reaching $38.22. 2,582,856 shares of the company traded hands, compared to its average volume of 4,470,188. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of 11.20 and a beta of 2.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.71 and a quick ratio of 1.14. The business has a 50 day moving average of $40.92 and a two-hundred day moving average of $41.64. United States Steel Co. has a 12 month low of $20.40 and a 12 month high of $50.20.

United States Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Monday, May 13th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Friday, May 10th. United States Steel’s payout ratio is currently 5.87%.

Analyst Ratings Changes

Several research analysts have commented on X shares. 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 report on Tuesday, April 9th. JPMorgan Chase & Co. lowered their price target on shares of United States Steel from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Morgan Stanley raised shares of United States Steel from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $51.00 to $48.00 in a research note on Monday. StockNews.com started coverage on United States Steel in a research report on Tuesday. They issued a “hold” rating on the stock. Finally, BMO Capital Markets decreased their target price on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a report on Tuesday, March 19th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $38.00.

About United States Steel

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.