Gabelli Funds LLC lessened its position in shares of United States Steel Co. (NYSE:X - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 348,814 shares of the basic materials company's stock after selling 22,236 shares during the period. Gabelli Funds LLC owned approximately 0.15% of United States Steel worth $11,856,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its position in United States Steel by 64.0% during the 4th quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company's stock worth $25,000 after purchasing an additional 277 shares during the period. Ameliora Wealth Management Ltd. purchased a new stake in shares of United States Steel in the fourth quarter worth about $27,000. ORG Wealth Partners LLC purchased a new stake in shares of United States Steel in the fourth quarter worth about $30,000. Parkworth Wealth Management Inc. acquired a new stake in shares of United States Steel in the fourth quarter valued at about $31,000. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of United States Steel during the 4th quarter valued at about $32,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.
United States Steel Stock Performance
Shares of NYSE:X traded down $2.28 on Monday, reaching $39.28. 3,522,379 shares of the company's stock were exchanged, compared to its average volume of 5,443,032. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week high of $46.18. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 1.53 and a beta of 1.79. The business's 50-day moving average is $40.15 and its two-hundred day moving average is $37.87. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36.
United States Steel (NYSE:X - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. As a group, equities research analysts forecast that United States Steel Co. will post 1.43 EPS for the current year.
United States Steel Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.51%. United States Steel's dividend payout ratio is presently 13.42%.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on X. BMO Capital Markets reaffirmed a "market perform" rating and issued a $45.00 price objective on shares of United States Steel in a research report on Monday, March 31st. Bank of America assumed coverage on shares of United States Steel in a report on Monday, January 6th. They issued a "neutral" rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. restated a "neutral" rating and set a $38.00 target price (down from $43.00) on shares of United States Steel in a research note on Wednesday, April 16th. Jefferies Financial Group cut their price target on United States Steel from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley raised their price objective on United States Steel from $39.00 to $43.00 and gave the company an "equal weight" rating in a research note on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $39.94.
Read Our Latest Report on X
About United States Steel
(
Free Report)
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.
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