Moors & Cabot Inc. Acquires 1,245 Shares of United States Steel Co. (NYSE:X)

Moors & Cabot Inc. grew its holdings in United States Steel Co. (NYSE:X) by 19.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,625 shares of the basic materials company’s stock after acquiring an additional 1,245 shares during the quarter. Moors & Cabot Inc.’s holdings in United States Steel were worth $288,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Gabelli Funds LLC boosted its stake in United States Steel by 436.4% in the 4th quarter. Gabelli Funds LLC now owns 214,300 shares of the basic materials company’s stock worth $10,426,000 after purchasing an additional 174,350 shares during the period. Third Point LLC grew its holdings in shares of United States Steel by 15.8% during the fourth quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock worth $267,575,000 after buying an additional 750,000 shares in the last quarter. Weiss Asset Management LP acquired a new stake in United States Steel in the 4th quarter valued at approximately $6,408,000. Janus Henderson Group PLC raised its position in United States Steel by 94.3% in the 1st quarter. Janus Henderson Group PLC now owns 211,043 shares of the basic materials company’s stock valued at $8,601,000 after buying an additional 102,450 shares during the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in United States Steel in the 4th quarter valued at approximately $219,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

Wall Street Analyst Weigh In

X has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of United States Steel from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $42.00 in a report on Monday, September 9th. Glj Research upgraded United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective for the company in a report on Monday, September 9th. BMO Capital Markets upgraded United States Steel from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $43.00 to $45.00 in a report on Wednesday, June 26th. Jefferies Financial Group lowered their price target on United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Finally, StockNews.com initiated coverage on United States Steel in a report on Monday, August 19th. They issued a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.76.

United States Steel Price Performance

Shares of United States Steel stock opened at $38.96 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 11.43 and a beta of 1.88. United States Steel Co. has a twelve month low of $26.92 and a twelve month high of $50.20. The company has a 50-day simple moving average of $38.09 and a two-hundred day simple moving average of $38.70.

United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.12. The company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.01 billion. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The firm’s quarterly revenue was down 17.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.92 earnings per share. Analysts forecast that United States Steel Co. will post 2.15 EPS for the current year.

United States Steel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, August 12th. United States Steel’s dividend payout ratio (DPR) is currently 5.87%.

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.