Raymond James Financial Inc. purchased a new position in shares of United States Steel Co. (NYSE:X - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 83,658 shares of the basic materials company's stock, valued at approximately $2,844,000.
Several other hedge funds have also made changes to their positions in the business. D.A. Davidson & CO. grew its position 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 last quarter. Captrust Financial Advisors lifted its stake in shares of United States Steel by 4.8% in the 3rd quarter. Captrust Financial Advisors now owns 7,012 shares of the basic materials company's stock worth $248,000 after acquiring an additional 321 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of United States Steel by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 6,880 shares of the basic materials company's stock valued at $234,000 after acquiring an additional 366 shares in the last quarter. GAMMA Investing LLC boosted its holdings in United States Steel by 50.0% in the 4th quarter. GAMMA Investing LLC now owns 1,326 shares of the basic materials company's stock valued at $45,000 after purchasing an additional 442 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of United States Steel by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 62,500 shares of the basic materials company's stock valued at $2,124,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company's stock.
Analysts Set New Price Targets
X has been the subject of several recent analyst reports. Bank of America initiated coverage on shares of United States Steel in a research note on Monday, January 6th. They issued a "neutral" rating and a $35.00 price objective for the company. BMO Capital Markets reissued a "market perform" rating and set a $45.00 price target on shares of United States Steel in a research note on Monday. JPMorgan Chase & Co. upped their price target on United States Steel from $40.00 to $43.00 and gave the stock an "overweight" rating in a report on Tuesday, March 11th. Morgan Stanley lifted their price objective on United States Steel from $39.00 to $43.00 and gave the stock an "equal weight" rating in a report on Friday, March 7th. Finally, Jefferies Financial Group lowered their target price on United States Steel from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.32.
Read Our Latest Report on X
United States Steel Price Performance
Shares of NYSE:X traded up $0.25 on Wednesday, hitting $42.42. The company had a trading volume of 6,410,339 shares, compared to its average volume of 5,127,840. The company has a current ratio of 1.55, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The company has a market cap of $9.60 billion, a PE ratio of 28.47, a PEG ratio of 1.53 and a beta of 1.86. United States Steel Co. has a 52-week low of $26.92 and a 52-week high of $44.87. The business has a 50 day moving average of $38.87 and a 200 day moving average of $37.34.
United States Steel (NYSE:X - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. As a group, equities analysts anticipate that United States Steel Co. will post 1.43 earnings per share for the current fiscal year.
United States Steel Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were issued a $0.05 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.20 annualized dividend and a yield of 0.47%. United States Steel's dividend payout ratio (DPR) is presently 13.42%.
United States Steel Company Profile
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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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