Raymond James Financial Inc. Makes New $2.84 Million Investment in United States Steel Co. (NYSE:X)

Raymond James Financial Inc. purchased a new stake in United States Steel Co. (NYSE:X) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 83,658 shares of the basic materials company’s stock, valued at approximately $2,844,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of X. Cerity Partners LLC grew its position in shares of United States Steel by 36.1% in the third quarter. Cerity Partners LLC now owns 12,613 shares of the basic materials company’s stock valued at $446,000 after purchasing an additional 3,344 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of United States Steel by 125.0% in the third quarter. Larson Financial Group LLC now owns 2,887 shares of the basic materials company’s stock worth $102,000 after acquiring an additional 1,604 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of United States Steel by 60.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,769 shares of the basic materials company’s stock worth $698,000 after buying an additional 7,460 shares during the period. Bank of Montreal Can grew its position in United States Steel by 16.8% during the third quarter. Bank of Montreal Can now owns 63,203 shares of the basic materials company’s stock valued at $2,251,000 after acquiring an additional 9,112 shares during the period. Finally, D.A. Davidson & CO. lifted its stake in shares of United States Steel by 0.7% in the 3rd quarter. D.A. Davidson & CO. now owns 44,450 shares of the basic materials company’s stock valued at $1,570,000 after purchasing an additional 301 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on X. JPMorgan Chase & Co. raised their price objective on United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. Jefferies Financial Group cut their price target on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. BMO Capital Markets lifted their price objective on United States Steel from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. Bank of America started 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. Finally, Morgan Stanley upped their price objective on United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, United States Steel has an average rating of “Moderate Buy” and an average price target of $41.32.

United States Steel Trading Up 0.0 %

Shares of NYSE:X opened at $43.00 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $38.52 and its 200 day moving average price is $37.14. The company has a market cap of $9.73 billion, a PE ratio of 28.86, a P/E/G ratio of 1.53 and a beta of 1.86. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week high of $44.87.

United States Steel (NYSE:X) last issued its quarterly earnings data 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%. Sell-side analysts anticipate that United States Steel Co. will post 1.43 earnings per share for the current year.

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Monday, February 10th. United States Steel’s payout ratio is 13.42%.

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.