AGF Management Ltd. Takes $3.94 Million Position in United States Steel Co. (NYSE:X)

AGF Management Ltd. purchased a new stake in United States Steel Co. (NYSE:X) in the fourth quarter, HoldingsChannel reports. The fund purchased 80,874 shares of the basic materials company’s stock, valued at approximately $3,935,000.

A number of other hedge funds have also recently bought and sold shares of X. Raymond James Financial Services Advisors Inc. increased its position in shares of United States Steel by 308.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 331,492 shares of the basic materials company’s stock worth $16,127,000 after purchasing an additional 250,311 shares in the last quarter. FNY Investment Advisers LLC increased its position in shares of United States Steel by 16,065.0% during the 4th quarter. FNY Investment Advisers LLC now owns 32,330 shares of the basic materials company’s stock worth $1,572,000 after purchasing an additional 32,130 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of United States Steel by 4,057.9% during the 4th quarter. International Assets Investment Management LLC now owns 747,553 shares of the basic materials company’s stock worth $36,368,000 after purchasing an additional 729,574 shares in the last quarter. SG Americas Securities LLC increased its position in shares of United States Steel by 1,132.8% during the 4th quarter. SG Americas Securities LLC now owns 115,715 shares of the basic materials company’s stock worth $5,630,000 after purchasing an additional 106,329 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in United States Steel in the 4th quarter valued at about $3,045,000. 81.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

X has been the subject of several research reports. BMO Capital Markets lowered their price objective on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a research report on Tuesday, March 19th. Morgan Stanley upgraded shares of United States Steel from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $51.00 to $48.00 in a research report on Monday, May 6th. JPMorgan Chase & Co. lowered their price objective 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. StockNews.com initiated coverage on shares of United States Steel in a research report on Tuesday, May 7th. They issued a “hold” rating for the company. Finally, 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. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $38.00.

United States Steel Trading Up 0.8 %

Shares of NYSE X traded up $0.32 during mid-day trading on Monday, hitting $38.34. The company’s stock had a trading volume of 179,614 shares, compared to its average volume of 4,388,628. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of 11.15 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. United States Steel Co. has a one year low of $20.40 and a one year high of $50.20. The company’s fifty day simple moving average is $40.55 and its 200-day simple moving average is $41.73.

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 paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Friday, May 10th. United States Steel’s payout ratio is 5.87%.

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.