Bleakley Financial Group LLC Takes $224,000 Position in United States Steel Co. (NYSE:X)

Bleakley Financial Group LLC acquired a new stake in United States Steel Co. (NYSE:X) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 4,595 shares of the basic materials company’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its position in United States Steel by 1.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,258,118 shares of the basic materials company’s stock valued at $61,207,000 after buying an additional 14,440 shares in the last quarter. International Assets Investment Management LLC increased its position in United States Steel by 4,057.9% in the 4th quarter. International Assets Investment Management LLC now owns 747,553 shares of the basic materials company’s stock valued at $36,368,000 after buying an additional 729,574 shares in the last quarter. Requisite Capital Management LLC bought a new stake in United States Steel in the 4th quarter valued at about $224,000. TriaGen Wealth Management LLC bought a new stake in United States Steel in the 4th quarter valued at about $549,000. Finally, Oak Thistle LLC bought a new stake in United States Steel in the 4th quarter valued at about $560,000. 81.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wolfe Research raised United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 target price for the company in a research report on Tuesday, April 9th. JPMorgan Chase & Co. started coverage on United States Steel in a report on Friday, January 12th. They set a “neutral” rating and a $52.00 price objective for the company. StockNews.com started coverage on United States Steel in a report on Saturday. They set a “hold” rating for the company. BMO Capital Markets decreased their price objective on United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a report on Tuesday, March 19th. Finally, Morgan Stanley lowered United States Steel from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $40.00 to $51.00 in a report on Thursday, February 15th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $37.89.

United States Steel Stock Performance

X stock opened at $40.84 on Tuesday. The firm has a market cap of $9.18 billion, a PE ratio of 11.64 and a beta of 2.01. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average of $43.80 and a 200-day moving average of $41.11. United States Steel Co. has a 12-month low of $20.40 and a 12-month high of $50.20.

United States Steel (NYSE:X) last released its earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.46. United States Steel had a return on equity of 10.80% and a net margin of 4.96%. The company had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same period in the prior year, the company posted $0.87 earnings per share. United States Steel’s quarterly revenue was down 4.5% on a year-over-year basis. As a group, sell-side analysts expect that United States Steel Co. will post 3.17 earnings per share for the current year.

United States Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 12th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.20 annualized dividend and a yield of 0.49%. United States Steel’s payout ratio is 5.70%.

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.