Exchange Traded Concepts LLC boosted its position in United States Steel Co. (NYSE:X – Free Report) by 2.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 23,936 shares of the basic materials company’s stock after purchasing an additional 605 shares during the period. Exchange Traded Concepts LLC’s holdings in United States Steel were worth $814,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. ORG Wealth Partners LLC acquired a new stake in United States Steel during the fourth quarter worth approximately $30,000. Palouse Capital Management Inc. acquired a new stake in United States Steel during the third quarter worth approximately $35,000. Gladius Capital Management LP bought a new position in shares of United States Steel during the third quarter worth approximately $39,000. GAMMA Investing LLC increased its holdings in shares of United States Steel by 50.0% during the fourth quarter. GAMMA Investing LLC now owns 1,326 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 442 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of United States Steel during the third quarter worth approximately $59,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have recently commented on X. Jefferies Financial Group lowered their target price on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. decreased their price objective on shares of United States Steel from $44.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. BMO Capital Markets decreased their price objective on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Finally, Bank of America assumed coverage on shares of United States Steel in a research note on Monday, January 6th. They issued a “neutral” rating and a $35.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.07.
United States Steel Stock Performance
Shares of United States Steel stock opened at $36.61 on Thursday. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week high of $48.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.67 and a quick ratio of 1.08. The firm has a market capitalization of $8.24 billion, a P/E ratio of 24.08 and a beta of 1.88. The company’s 50 day moving average price is $35.40 and its two-hundred day moving average price is $37.06.
United States Steel (NYSE:X – Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.77 billion. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. United States Steel’s revenue was down 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.36 earnings per share. On average, equities analysts forecast that United States Steel Co. will post 1.78 earnings per share for the current fiscal year.
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.
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