Oppenheimer & Co. Inc. Invests $608,000 in United States Steel Co. (NYSE:X)

Oppenheimer & Co. Inc. bought a new stake in United States Steel Co. (NYSE:X - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,204 shares of the basic materials company's stock, valued at approximately $608,000.

Several other institutional investors and hedge funds have also modified their holdings of X. Rothschild Investment LLC acquired a new position in United States Steel in the 2nd quarter valued at $26,000. Palouse Capital Management Inc. bought a new position in United States Steel in the third quarter valued at approximately $35,000. Blue Trust Inc. lifted its stake in United States Steel by 339.0% during the second quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company's stock worth $41,000 after purchasing an additional 773 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of United States Steel during the 2nd quarter worth $46,000. Finally, Rakuten Securities Inc. grew its position 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 valued at $118,000 after acquiring an additional 279 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

United States Steel Stock Down 1.3 %

X opened at $38.38 on Thursday. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week high of $50.20. The firm has a market capitalization of $8.64 billion, a P/E ratio of 25.25 and a beta of 1.86. The company's 50-day moving average is $37.66 and its 200 day moving average is $37.83. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.67 and a quick ratio of 1.08.

United States Steel (NYSE:X - Get Free Report) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.15. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.77 billion. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. United States Steel's quarterly revenue was down 13.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.36 earnings per share. Research analysts expect that United States Steel Co. will post 2.21 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 11th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Friday, November 8th. United States Steel's payout ratio is currently 13.16%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. BNP Paribas raised shares of United States Steel from a "neutral" rating to an "outperform" rating and set a $40.00 target price for the company in a report on Friday, September 6th. Jefferies Financial Group cut their target price on shares of United States Steel from $47.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, September 5th. Glj Research upgraded United States Steel from a "sell" rating to a "buy" rating and set a $38.57 price target for the company in a research note on Monday, September 9th. JPMorgan Chase & Co. raised United States Steel from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $40.00 to $42.00 in a report on Monday, September 9th. Finally, StockNews.com initiated coverage on United States Steel in a research note on Monday, August 19th. They set a "hold" rating on the stock. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.80.

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.