United States Steel Co. (NYSE:X) Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. lessened its holdings in shares of United States Steel Co. (NYSE:X) by 13.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,550 shares of the basic materials company’s stock after selling 1,008 shares during the quarter. Harbour Investments Inc.’s holdings in United States Steel were worth $248,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of X. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of United States Steel during the fourth quarter worth about $25,000. GAMMA Investing LLC acquired a new position in United States Steel during the 4th quarter worth approximately $33,000. Riverview Trust Co purchased a new position in United States Steel in the 1st quarter worth approximately $29,000. Pineridge Advisors LLC acquired a new stake in United States Steel in the fourth quarter valued at approximately $44,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of United States Steel during the first quarter valued at approximately $41,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Wall Street Analysts Forecast Growth

X has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on shares of United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Jefferies Financial Group started coverage on United States Steel in a research note on Monday, May 20th. They issued a “buy” rating and a $45.00 price target on the stock. StockNews.com initiated coverage on United States Steel in a report on Monday, August 19th. They set a “hold” rating on the stock. BMO Capital Markets raised shares of United States Steel from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $43.00 to $45.00 in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. cut their price target on shares of United States Steel from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $40.13.

United States Steel Stock Up 3.1 %

X stock opened at $38.56 on Friday. The firm has a market cap of $8.67 billion, a price-to-earnings ratio of 11.31 and a beta of 1.93. United States Steel Co. has a 1-year low of $30.02 and a 1-year high of $50.20. The firm has a fifty day moving average price of $39.11 and a two-hundred day moving average price of $40.01. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.14.

United States Steel (NYSE:X) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.12. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the business earned $1.92 earnings per share. United States Steel’s quarterly revenue was down 17.8% on a year-over-year basis. Research analysts predict that United States Steel Co. will post 2.19 EPS for the current year.

United States Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Monday, August 12th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.52%. United States Steel’s dividend payout ratio is currently 5.87%.

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.