Riverview Trust Co Buys Shares of 713 United States Steel Co. (NYSE:X)

Riverview Trust Co purchased a new position in United States Steel Co. (NYSE:X) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 713 shares of the basic materials company’s stock, valued at approximately $29,000.

Several other large investors have also recently made changes to their positions in X. Third Point LLC acquired a new stake in shares of United States Steel during the 3rd quarter worth approximately $154,280,000. Norges Bank acquired a new position in shares of United States Steel in the 4th quarter valued at $200,952,000. KRYGER CAPITAL Ltd purchased a new position in shares of United States Steel during the 4th quarter worth $95,529,000. Laurion Capital Management LP purchased a new stake in United States Steel in the 3rd quarter valued at about $50,912,000. Finally, Segantii Capital Management Ltd acquired a new position in United States Steel in the fourth quarter valued at about $68,840,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

United States Steel Price Performance

X stock opened at $35.21 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.71 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average price of $37.36 and a 200 day moving average price of $42.34. The stock has a market cap of $7.92 billion, a price-to-earnings ratio of 10.33 and a beta of 1.99. United States Steel Co. has a fifty-two week low of $22.26 and a fifty-two week high of $50.20.

United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.77 by $0.01. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. The firm had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.22 billion. Equities research analysts anticipate that United States Steel Co. will post 2.69 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Monday, May 13th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.57%. The ex-dividend date was Friday, May 10th. United States Steel’s dividend payout ratio is presently 5.87%.

Analyst Upgrades and Downgrades

X has been the subject of a number of recent analyst reports. Jefferies Financial Group started coverage on shares of United States Steel in a research report on Monday, May 20th. They set a “buy” rating and a $45.00 price target for the company. BMO Capital Markets lowered their price target on United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a research report on Tuesday, March 19th. Morgan Stanley upgraded United States Steel from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $51.00 to $48.00 in a report on Monday, May 6th. StockNews.com initiated coverage on United States Steel in a research report on Monday. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.78.

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.