United States Steel Co. (NYSE:X) Holdings Raised by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its position in shares of United States Steel Co. (NYSE:X) by 9.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,351 shares of the basic materials company’s stock after acquiring an additional 826 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in United States Steel were worth $353,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Gabelli Funds LLC boosted its stake in United States Steel by 436.4% in the fourth quarter. Gabelli Funds LLC now owns 214,300 shares of the basic materials company’s stock valued at $10,426,000 after acquiring an additional 174,350 shares during the period. Third Point LLC boosted its position in United States Steel by 15.8% during the 4th quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock valued at $267,575,000 after purchasing an additional 750,000 shares during the period. Weiss Asset Management LP bought a new position in United States Steel during the 4th quarter worth $6,408,000. Janus Henderson Group PLC increased its position in United States Steel by 94.3% in the first quarter. Janus Henderson Group PLC now owns 211,043 shares of the basic materials company’s stock worth $8,601,000 after buying an additional 102,450 shares during the period. Finally, Kingsview Wealth Management LLC bought a new stake in United States Steel in the fourth quarter valued at $219,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

United States Steel Stock Performance

X opened at $37.14 on Friday. The business has a 50 day moving average price of $39.03 and a two-hundred day moving average price of $40.20. 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 company has a market capitalization of $8.35 billion, a price-to-earnings ratio of 10.89 and a beta of 1.93. United States Steel Co. has a 1-year low of $29.84 and a 1-year high of $50.20.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.12. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.01 billion. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The company’s revenue was down 17.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.92 earnings per share. Research analysts predict that United States Steel Co. will post 2.38 EPS for the current fiscal year.

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, August 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. United States Steel’s dividend payout ratio (DPR) is 5.87%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on X shares. BMO Capital Markets raised shares of United States Steel from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $43.00 to $45.00 in a report on Wednesday, June 26th. StockNews.com began coverage on shares of United States Steel in a research note on Monday, August 19th. They issued a “hold” rating on the stock. Jefferies Financial Group began coverage on United States Steel in a research report on Monday, May 20th. They set a “buy” rating and a $45.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on United States Steel from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 16th. Finally, Morgan Stanley boosted their price target on United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $40.13.

United States Steel 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.