ARS Investment Partners LLC Makes New $15.51 Million Investment in United States Steel Co. (NYSE:X)

ARS Investment Partners LLC acquired a new stake in United States Steel Co. (NYSE:X) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 456,319 shares of the basic materials company’s stock, valued at approximately $15,510,000. United States Steel accounts for about 1.4% of ARS Investment Partners LLC’s holdings, making the stock its 24th biggest position. ARS Investment Partners LLC owned 0.20% of United States Steel as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. ORG Wealth Partners LLC acquired a new stake in United States Steel during the fourth quarter valued at $30,000. Palouse Capital Management Inc. acquired a new stake in shares of United States Steel during the 3rd quarter valued at about $35,000. Gladius Capital Management LP purchased a new position in shares of United States Steel in the 3rd quarter valued at about $39,000. GAMMA Investing LLC raised its holdings in United States Steel by 50.0% in the 4th 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 purchased a new position in United States Steel during the third quarter worth approximately $59,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. BMO Capital Markets decreased their price target 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. Bank of America started coverage on United States Steel in a research note on Monday, January 6th. They issued a “neutral” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on United States Steel from $44.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday. Finally, 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 research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.07.

United States Steel Stock Up 0.7 %

Shares of NYSE X opened at $36.05 on Tuesday. United States Steel Co. has a 12-month low of $26.92 and a 12-month high of $48.85. The stock has a market cap of $8.12 billion, a P/E ratio of 23.72 and a beta of 1.88. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35. The business’s fifty day simple moving average is $35.52 and its 200-day simple moving average is $37.14.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.77 billion. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The firm’s quarterly revenue was down 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.36 earnings per share. As a group, equities analysts predict that United States Steel Co. will post 1.81 EPS for the current fiscal year.

United States Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th were given a dividend of $0.05 per share. The ex-dividend date was Friday, November 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. United States Steel’s dividend payout ratio is presently 13.16%.

United States Steel Company 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.