Rhumbline Advisers Acquires 3,019 Shares of United States Steel Co. (NYSE:X)

Rhumbline Advisers grew its stake in shares of United States Steel Co. (NYSE:X) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 624,008 shares of the basic materials company’s stock after purchasing an additional 3,019 shares during the quarter. Rhumbline Advisers owned approximately 0.28% of United States Steel worth $21,210,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Van ECK Associates Corp lifted its stake in United States Steel by 26.4% in the fourth quarter. Van ECK Associates Corp now owns 477,016 shares of the basic materials company’s stock worth $16,214,000 after acquiring an additional 99,665 shares during the period. Capital Advisors Inc. OK acquired a new position in shares of United States Steel during the fourth quarter valued at about $537,000. Louisiana State Employees Retirement System increased its holdings in United States Steel by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 62,500 shares of the basic materials company’s stock worth $2,124,000 after buying an additional 500 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in shares of United States Steel during the 4th quarter worth approximately $34,000. Finally, Byrne Asset Management LLC grew its stake in shares of United States Steel by 4,680.0% during the 4th quarter. Byrne Asset Management LLC now owns 1,195 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 1,170 shares during the period. 81.92% of the stock is owned by hedge funds and other institutional investors.

United States Steel Stock Down 2.8 %

X opened at $37.94 on Friday. United States Steel Co. has a one year low of $26.92 and a one year high of $48.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55. The stock’s fifty day moving average is $35.13 and its 200-day moving average is $36.91. The company has a market capitalization of $8.54 billion, a PE ratio of 25.46, a P/E/G ratio of 1.55 and a beta of 1.86.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. On average, equities analysts predict that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.53%. United States Steel’s dividend payout ratio (DPR) is presently 13.42%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on X. Morgan Stanley restated an “equal weight” rating and issued a $39.00 price objective on shares of United States Steel in a report on Monday, February 3rd. Bank of America assumed coverage on United States Steel in a research note on Monday, January 6th. They set a “neutral” rating and a $35.00 target price for the company. BMO Capital Markets dropped their target price on United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. JPMorgan Chase & Co. dropped their target price on United States Steel from $44.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Jefferies Financial Group dropped their price objective on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $39.82.

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.