Sequoia Financial Advisors LLC Purchases New Shares in United States Steel Co. (NYSE:X)

Sequoia Financial Advisors LLC purchased a new position in shares of United States Steel Co. (NYSE:X - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,336 shares of the basic materials company's stock, valued at approximately $351,000.

A number of other hedge funds also recently modified their holdings of X. Ameliora Wealth Management Ltd. bought a new position in shares of United States Steel during the fourth quarter worth about $27,000. ORG Wealth Partners LLC bought a new position in shares of United States Steel during the fourth quarter worth about $30,000. Newbridge Financial Services Group Inc. bought a new position in shares of United States Steel during the fourth quarter worth about $34,000. Smithfield Trust Co grew its holdings in shares of United States Steel by 903.0% during the fourth quarter. Smithfield Trust Co now owns 1,003 shares of the basic materials company's stock worth $34,000 after buying an additional 903 shares in the last quarter. Finally, Byrne Asset Management LLC grew its holdings in shares of United States Steel by 4,680.0% during the fourth quarter. Byrne Asset Management LLC now owns 1,195 shares of the basic materials company's stock worth $41,000 after buying an additional 1,170 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company's stock.

Wall Street Analysts Forecast Growth

X has been the subject of a number of research reports. BMO Capital Markets increased their price objective on United States Steel from $40.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday. JPMorgan Chase & Co. raised their price target on United States Steel from $40.00 to $43.00 and gave the company an "overweight" rating in a research note on Tuesday, March 11th. Bank of America began coverage on United States Steel in a research note on Monday, January 6th. They issued a "neutral" rating and a $35.00 price target for the company. Jefferies Financial Group decreased their price target on United States Steel from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, Morgan Stanley raised their price target 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. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $41.32.

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United States Steel Stock Performance

Shares of X traded down $0.16 during mid-day trading on Friday, reaching $40.90. The company's stock had a trading volume of 4,921,020 shares, compared to its average volume of 4,940,853. United States Steel Co. has a 1-year low of $26.92 and a 1-year high of $43.35. The stock has a market cap of $9.21 billion, a P/E ratio of 27.45, a PEG ratio of 1.53 and a beta of 1.86. The business has a 50-day simple moving average of $37.88 and a two-hundred day simple moving average of $36.77. The company has a current ratio of 1.55, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) 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 anticipate that United States Steel Co. will post 1.43 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.49%. United States Steel's payout ratio is 13.42%.

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.