Oppenheimer & Co. Inc. Makes New Investment in United States Steel Co. (NYSE:X)

Oppenheimer & Co. Inc. bought a new stake in shares of United States Steel Co. (NYSE:X) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,204 shares of the basic materials company’s stock, valued at approximately $608,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. O Shaughnessy Asset Management LLC lifted its holdings in United States Steel by 41.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 6,589 shares of the basic materials company’s stock worth $269,000 after buying an additional 1,921 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of United States Steel by 1.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 136,016 shares of the basic materials company’s stock valued at $5,545,000 after purchasing an additional 2,544 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in United States Steel by 146.4% in the first quarter. Gamco Investors INC. ET AL now owns 26,000 shares of the basic materials company’s stock worth $1,060,000 after purchasing an additional 15,450 shares during the period. Gabelli Funds LLC raised its holdings in United States Steel by 97.7% in the first quarter. Gabelli Funds LLC now owns 423,750 shares of the basic materials company’s stock worth $17,281,000 after purchasing an additional 209,450 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in United States Steel by 89.1% during the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 383,550 shares of the basic materials company’s stock valued at $15,641,000 after buying an additional 180,700 shares during the period. Institutional investors own 81.92% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on X. StockNews.com assumed coverage on United States Steel in a research note on Monday, August 19th. They set a “hold” rating for the company. JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $40.00 to $42.00 in a research report on Monday, September 9th. Jefferies Financial Group decreased their target price on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a report on Thursday, September 5th. BMO Capital Markets dropped their target price on shares of United States Steel from $45.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, BNP Paribas upgraded shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective for the company in a report on Friday, September 6th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $42.80.

United States Steel Stock Down 1.3 %

X stock opened at $38.38 on Thursday. The business’s 50-day moving average price is $37.56 and its 200-day moving average price is $37.82. The stock has a market cap of $8.64 billion, a P/E ratio of 27.26 and a beta of 1.86. United States Steel Co. has a twelve month low of $26.92 and a twelve month high of $50.20. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35.

United States Steel (NYSE:X) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the company earned $1.36 EPS. United States Steel’s revenue for the quarter was down 13.0% on a year-over-year basis. On average, equities research analysts forecast that United States Steel Co. will post 2.21 EPS for the current year.

United States Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th will be issued a $0.05 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.52%. United States Steel’s dividend payout ratio is currently 13.16%.

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.