Ashton Thomas Private Wealth LLC Invests $46,000 in United States Steel Co. (NYSE:X)

Ashton Thomas Private Wealth LLC bought a new position in United States Steel Co. (NYSE:X) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,213 shares of the basic materials company’s stock, valued at approximately $46,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Quest Partners LLC lifted its stake in United States Steel by 539.6% in the second quarter. Quest Partners LLC now owns 13,399 shares of the basic materials company’s stock worth $506,000 after acquiring an additional 11,304 shares during the period. New York Life Investment Management LLC lifted its stake in United States Steel by 15.7% in the second quarter. New York Life Investment Management LLC now owns 449,458 shares of the basic materials company’s stock worth $16,990,000 after acquiring an additional 61,100 shares during the period. Arizona State Retirement System lifted its stake in United States Steel by 2.6% in the second quarter. Arizona State Retirement System now owns 62,938 shares of the basic materials company’s stock worth $2,379,000 after acquiring an additional 1,615 shares during the period. Cannon Global Investment Management LLC lifted its stake in United States Steel by 12.1% in the second quarter. Cannon Global Investment Management LLC now owns 56,500 shares of the basic materials company’s stock worth $2,136,000 after acquiring an additional 6,100 shares during the period. Finally, First National Trust Co purchased a new stake in United States Steel in the second quarter worth $270,000. Institutional investors own 81.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on X. Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price target for the company in a research note on Monday, September 9th. JPMorgan Chase & Co. raised United States Steel from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $42.00 in a research report on Monday, September 9th. StockNews.com assumed coverage on United States Steel in a research report on Monday, August 19th. They set a “hold” rating for the company. Jefferies Financial Group lowered their price objective on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Finally, BNP Paribas raised United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Friday, September 6th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, United States Steel has a consensus rating of “Moderate Buy” and an average target price of $39.76.

United States Steel Price Performance

X opened at $36.07 on Monday. The stock has a 50-day moving average price of $38.24 and a 200-day moving average price of $38.93. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.14. The firm has a market cap of $8.11 billion, a PE ratio of 10.58 and a beta of 1.88. 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 quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.72 by $0.12. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the company earned $1.92 EPS. United States Steel’s revenue for the quarter was down 17.8% on a year-over-year basis. Sell-side analysts predict that United States Steel Co. will post 2.15 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 12th were issued a $0.05 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.20 annualized dividend and a yield of 0.55%. United States Steel’s payout ratio is 5.87%.

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.