Sequoia Financial Advisors LLC Invests $351,000 in United States Steel Co. (NYSE:X)

Sequoia Financial Advisors LLC purchased a new stake in shares of United States Steel Co. (NYSE:X) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,336 shares of the basic materials company’s stock, valued at approximately $351,000.

A number of other hedge funds also recently added to or reduced their stakes in X. Ameliora Wealth Management Ltd. purchased a new stake in United States Steel during the 4th quarter valued at $27,000. ORG Wealth Partners LLC bought a new position in shares of United States Steel during the fourth quarter valued at $30,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of United States Steel during the fourth quarter valued at $34,000. Smithfield Trust Co increased its holdings in United States Steel by 903.0% in the 4th quarter. Smithfield Trust Co now owns 1,003 shares of the basic materials company’s stock worth $34,000 after buying an additional 903 shares in the last quarter. Finally, Byrne Asset Management LLC raised its position in United States Steel by 4,680.0% in the 4th quarter. Byrne Asset Management LLC now owns 1,195 shares of the basic materials company’s stock worth $41,000 after buying an additional 1,170 shares during the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

United States Steel Stock Performance

Shares of X opened at $41.71 on Wednesday. The business has a 50-day simple moving average of $37.40 and a two-hundred day simple moving average of $36.68. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $43.35. The stock has a market cap of $9.39 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 1.53 and a beta of 1.86.

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

United States Steel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, February 10th. United States Steel’s dividend payout ratio (DPR) is 13.42%.

Analysts Set New Price Targets

A number of brokerages have recently commented on X. JPMorgan Chase & Co. lifted their price target on shares of United States Steel from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Jefferies Financial Group cut their target price on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Morgan Stanley increased their price target on United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday, March 7th. BMO Capital Markets cut their price objective on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Finally, Bank of America started coverage on United States Steel in a report on Monday, January 6th. They issued a “neutral” rating and a $35.00 target price on the stock. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, United States Steel has a consensus rating of “Moderate Buy” and an average price target of $40.70.

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.