Moors & Cabot Inc. Acquires 1,245 Shares of United States Steel Co. (NYSE:X)

Moors & Cabot Inc. boosted its holdings in shares of United States Steel Co. (NYSE:X) by 19.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,625 shares of the basic materials company’s stock after purchasing an additional 1,245 shares during the quarter. Moors & Cabot Inc.’s holdings in United States Steel were worth $288,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in X. Quadrant Capital Group LLC grew its position in United States Steel by 18.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,004 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 313 shares during the last quarter. Beacon Pointe Advisors LLC bought a new position in United States Steel during the fourth quarter valued at about $246,000. Kingsview Wealth Management LLC bought a new stake in United States Steel in the 4th quarter valued at $219,000. Coldstream Capital Management Inc. acquired a new position in shares of United States Steel in the 4th quarter valued at $238,000. Finally, D.A. Davidson & CO. lifted its holdings in shares of United States Steel by 98.8% during the 4th quarter. D.A. Davidson & CO. now owns 65,148 shares of the basic materials company’s stock worth $3,169,000 after acquiring an additional 32,378 shares during the period. Institutional investors and hedge funds own 81.92% of the company’s stock.

United States Steel Stock Up 2.3 %

Shares of NYSE X opened at $38.96 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $8.76 billion, a PE ratio of 11.43 and a beta of 1.88. The firm’s 50-day moving average is $38.09 and its 200-day moving average is $38.70. United States Steel Co. has a 1 year low of $26.92 and a 1 year high of $50.20.

United States Steel (NYSE:X) last released its earnings results on Thursday, August 1st. The basic materials company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.01 billion. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The business’s quarterly revenue was down 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.92 EPS. Equities analysts expect that United States Steel Co. will post 2.15 EPS for the current year.

United States Steel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 12th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Monday, August 12th. United States Steel’s dividend payout ratio (DPR) is currently 5.87%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com began coverage on United States Steel in a research note on Monday, August 19th. They issued a “hold” rating on the stock. Morgan Stanley increased their price objective on United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. BMO Capital Markets upgraded shares of United States Steel from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $43.00 to $45.00 in a research note on Wednesday, June 26th. BNP Paribas raised shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective for the company in a report on Friday, September 6th. Finally, Jefferies Financial Group lowered their target price on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.76.

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.