Proficio Capital Partners LLC Invests $2.11 Million in United States Steel Co. (NYSE:X)

Proficio Capital Partners LLC bought a new stake in United States Steel Co. (NYSE:X) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 61,998 shares of the basic materials company’s stock, valued at approximately $2,107,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of X. Empirical Asset Management LLC acquired a new position in shares of United States Steel in the fourth quarter valued at approximately $525,000. ARS Investment Partners LLC acquired a new stake in United States Steel during the fourth quarter worth about $15,510,000. Rockefeller Capital Management L.P. lifted its holdings in shares of United States Steel by 646.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 506,694 shares of the basic materials company’s stock worth $17,902,000 after acquiring an additional 438,771 shares during the period. Geode Capital Management LLC boosted its position in shares of United States Steel by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,839,684 shares of the basic materials company’s stock worth $135,691,000 after acquiring an additional 37,528 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in United States Steel by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,600,708 shares of the basic materials company’s stock worth $91,883,000 after purchasing an additional 28,293 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

Analysts Set New Price Targets

X has been the topic of a number of recent analyst reports. Jefferies Financial Group decreased their target price on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. lifted their price target on shares of United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. BMO Capital Markets dropped their price objective on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Morgan Stanley boosted their target price on shares of United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, March 7th. Finally, Bank of America initiated coverage on shares of United States Steel in a report on Monday, January 6th. They set a “neutral” rating and a $35.00 price target for the company. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.70.

United States Steel Trading Down 0.4 %

X opened at $41.55 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week high of $43.35. The company’s 50 day moving average price is $37.58 and its two-hundred day moving average price is $36.72. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 1.53 and a beta of 1.86.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. As a group, research analysts predict that United States Steel Co. will post 1.43 earnings per share for the current year.

United States Steel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were issued a $0.05 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.20 annualized dividend and a yield of 0.48%. United States Steel’s payout ratio is 13.42%.

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.