Range Financial Group LLC Buys 1,101 Shares of United States Steel Co. (NYSE:X)

Range Financial Group LLC lifted its stake in United States Steel Co. (NYSE:X) by 25.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,440 shares of the basic materials company’s stock after acquiring an additional 1,101 shares during the period. Range Financial Group LLC’s holdings in United States Steel were worth $222,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC increased its position in shares of United States Steel by 31.0% during the first quarter. Rise Advisors LLC now owns 2,608 shares of the basic materials company’s stock valued at $106,000 after purchasing an additional 617 shares during the period. Syquant Capital Sas acquired a new position in United States Steel in the first quarter worth about $1,989,000. Kapitalo Investimentos Ltda lifted its stake in United States Steel by 541.8% during the fourth quarter. Kapitalo Investimentos Ltda now owns 45,980 shares of the basic materials company’s stock worth $2,237,000 after purchasing an additional 38,816 shares during the period. ICA Group Wealth Management LLC bought a new stake in shares of United States Steel in the 4th quarter valued at approximately $54,000. Finally, Pineridge Advisors LLC acquired a new position in shares of United States Steel in the 4th quarter worth approximately $44,000. Institutional investors own 81.92% of the company’s stock.

Wall Street Analyst Weigh In

X has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on United States Steel in a research note on Monday, May 20th. They set a “buy” rating and a $45.00 price objective for the company. Wolfe Research upgraded shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective for the company in a research report on Tuesday, April 9th. BMO Capital Markets cut their target price on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 19th. StockNews.com initiated coverage on United States Steel in a research note on Monday. They issued a “hold” rating on the stock. Finally, Morgan Stanley upgraded United States Steel from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $51.00 to $48.00 in a research report on Monday, May 6th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, United States Steel presently has a consensus rating of “Hold” and an average target price of $38.78.

United States Steel Trading Down 1.1 %

Shares of X opened at $36.27 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.71. United States Steel Co. has a 52-week low of $22.26 and a 52-week high of $50.20. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 10.63 and a beta of 2.00. The business’s fifty day moving average is $37.46 and its 200-day moving average is $42.35.

United States Steel (NYSE:X) last issued its earnings results on Thursday, May 2nd. The basic materials company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.77 by $0.01. United States Steel had a return on equity of 10.61% and a net margin of 4.89%. The firm had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.22 billion. Equities analysts anticipate that United States Steel Co. will post 2.69 EPS for the current fiscal year.

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Monday, May 13th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. United States Steel’s dividend payout ratio (DPR) is presently 5.87%.

About United States Steel

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.