First National Trust Co Buys Shares of 7,150 United States Steel Co. (NYSE:X)

First National Trust Co bought a new stake in shares of United States Steel Co. (NYSE:X) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,150 shares of the basic materials company’s stock, valued at approximately $270,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Third Point LLC boosted its holdings in United States Steel by 15.8% in the fourth quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock worth $267,575,000 after purchasing an additional 750,000 shares in the last quarter. Norges Bank acquired a new position in United States Steel in the fourth quarter worth about $200,952,000. Charles Schwab Investment Management Inc. grew its stake in United States Steel by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,498,737 shares of the basic materials company’s stock worth $121,564,000 after buying an additional 94,080 shares during the last quarter. PSquared Asset Management AG grew its stake in United States Steel by 1.0% during the fourth quarter. PSquared Asset Management AG now owns 2,370,000 shares of the basic materials company’s stock worth $105,658,000 after buying an additional 23,700 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of United States Steel by 8.5% during the fourth quarter. Franklin Resources Inc. now owns 2,296,929 shares of the basic materials company’s stock valued at $111,746,000 after purchasing an additional 179,088 shares during the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on X shares. StockNews.com started 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 dropped their price objective on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday. Morgan Stanley raised their price objective on shares of United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. dropped their price objective on shares of United States Steel from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Finally, BMO Capital Markets upgraded shares of United States Steel from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $43.00 to $45.00 in a research note on Wednesday, June 26th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, United States Steel currently has a consensus rating of “Hold” and a consensus price target of $39.63.

United States Steel Price Performance

Shares of NYSE:X opened at $29.97 on Friday. The company has a 50-day moving average price of $38.88 and a two-hundred day moving average price of $39.61. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. United States Steel Co. has a twelve month low of $26.92 and a twelve month high of $50.20. The firm has a market capitalization of $6.74 billion, a PE ratio of 8.79 and a beta of 1.88.

United States Steel (NYSE:X) last posted its quarterly earnings results 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 net margin of 3.40% and a return on equity of 7.93%. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the firm posted $1.92 earnings per share. The business’s revenue was down 17.8% compared to the same quarter last year. Equities analysts forecast that United States Steel Co. will post 2.19 EPS for the current year.

United States Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Monday, August 12th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Monday, August 12th. United States Steel’s payout ratio is currently 5.87%.

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.