United States Steel Co. (NYSE:X) Stake Raised by Cerity Partners LLC

Cerity Partners LLC raised its holdings in United States Steel Co. (NYSE:X) by 36.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,613 shares of the basic materials company’s stock after acquiring an additional 3,344 shares during the quarter. Cerity Partners LLC’s holdings in United States Steel were worth $446,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of United States Steel by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,600,708 shares of the basic materials company’s stock worth $91,883,000 after purchasing an additional 28,293 shares during the period. Water Island Capital LLC raised its holdings in United States Steel by 5.3% during the 2nd quarter. Water Island Capital LLC now owns 906,092 shares of the basic materials company’s stock worth $34,250,000 after buying an additional 45,567 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in United States Steel during the third quarter valued at about $608,000. KGH Ltd boosted its holdings in shares of United States Steel by 68.2% in the second quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock worth $160,839,000 after buying an additional 1,724,670 shares during the period. Finally, Quest Partners LLC increased its position in shares of United States Steel by 103.4% in the third quarter. Quest Partners LLC now owns 27,248 shares of the basic materials company’s stock worth $963,000 after acquiring an additional 13,849 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.

United States Steel Stock Down 1.0 %

X opened at $38.45 on Monday. 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 Co. has a 1-year low of $26.92 and a 1-year high of $50.20. The business has a 50 day moving average of $38.27 and a 200-day moving average of $38.00. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of 25.30 and a beta of 1.83.

United States Steel (NYSE:X) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.41 by $0.15. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the firm posted $1.36 EPS. The company’s revenue for the quarter was down 13.0% on a year-over-year basis. As a group, sell-side analysts anticipate that United States Steel Co. will post 2.19 earnings per share for the current year.

United States Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Friday, November 8th. United States Steel’s dividend payout ratio is 13.16%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on X shares. Jefferies Financial Group reduced their price objective 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. JPMorgan Chase & Co. upgraded shares of United States Steel from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $40.00 to $42.00 in a report on Monday, September 9th. BMO Capital Markets cut their target price on shares of United States Steel from $45.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. StockNews.com initiated coverage on shares of United States Steel in a research note on Monday, August 19th. They issued a “hold” rating on the stock. Finally, Morgan Stanley lifted their price objective on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, United States Steel presently has an average rating of “Moderate Buy” and a consensus price target of $42.80.

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.