456,319 Shares in United States Steel Co. (NYSE:X) Bought by ARS Investment Partners LLC

ARS Investment Partners LLC acquired a new stake in United States Steel Co. (NYSE:X) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 456,319 shares of the basic materials company’s stock, valued at approximately $15,510,000. United States Steel makes up 1.4% of ARS Investment Partners LLC’s portfolio, making the stock its 24th biggest position.

Several other hedge funds also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV raised its position in United States Steel by 12.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 13,936 shares of the basic materials company’s stock worth $527,000 after acquiring an additional 1,502 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of United States Steel by 0.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,880 shares of the basic materials company’s stock valued at $1,016,000 after purchasing an additional 241 shares during the period. Hsbc Holdings PLC boosted its holdings in United States Steel by 33.1% during the second quarter. Hsbc Holdings PLC now owns 204,221 shares of the basic materials company’s stock worth $7,666,000 after buying an additional 50,836 shares in the last quarter. Intech Investment Management LLC acquired a new position in United States Steel during the second quarter worth about $2,992,000. Finally, Sei Investments Co. increased its holdings in United States Steel by 61.3% in the second quarter. Sei Investments Co. now owns 20,606 shares of the basic materials company’s stock valued at $779,000 after buying an additional 7,835 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

United States Steel Trading Up 0.7 %

United States Steel stock opened at $36.05 on Tuesday. The stock has a 50-day moving average price of $35.52 and a 200 day moving average price of $37.14. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $48.85. The stock has a market cap of $8.12 billion, a PE ratio of 23.72 and a beta of 1.88. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35.

United States Steel (NYSE:X) last announced its quarterly earnings data 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 business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.77 billion. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The company’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 earnings per share. Equities research analysts predict that United States Steel Co. will post 1.81 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, November 8th. United States Steel’s dividend payout ratio (DPR) is 13.16%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on X. Jefferies Financial Group lowered their price target 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. JPMorgan Chase & Co. lowered their target price on United States Steel from $44.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday. BMO Capital Markets cut their price target on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Finally, Bank of America assumed 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 on the stock. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, United States Steel has an average rating of “Moderate Buy” and an average target price of $41.07.

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.