Bleakley Financial Group LLC Invests $224,000 in United States Steel Co. (NYSE:X)

Bleakley Financial Group LLC acquired a new position in shares of United States Steel Co. (NYSE:X) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,595 shares of the basic materials company’s stock, valued at approximately $224,000.

Several other institutional investors have also made changes to their positions in X. Third Point LLC acquired a new stake in shares of United States Steel during the 3rd quarter valued at about $154,280,000. Norges Bank acquired a new position in United States Steel in the fourth quarter valued at about $61,925,000. First Trust Advisors LP boosted its position in United States Steel by 155.8% in the first quarter. First Trust Advisors LP now owns 3,309,824 shares of the basic materials company’s stock valued at $124,913,000 after buying an additional 2,015,980 shares in the last quarter. Laurion Capital Management LP acquired a new position in United States Steel in the third quarter valued at about $50,912,000. Finally, Balyasny Asset Management L.P. boosted its position in United States Steel by 930.3% in the first quarter. Balyasny Asset Management L.P. now owns 1,252,910 shares of the basic materials company’s stock valued at $32,701,000 after buying an additional 1,131,304 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

United States Steel Trading Down 1.2 %

X opened at $40.84 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.76 and a quick ratio of 1.22. The company has a market cap of $9.18 billion, a price-to-earnings ratio of 11.64 and a beta of 2.01. The firm has a 50 day simple moving average of $43.80 and a 200 day simple moving average of $41.11. United States Steel Co. has a fifty-two week low of $20.40 and a fifty-two week high of $50.20.

United States Steel (NYSE:X) last posted its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.46. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.73 billion. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. United States Steel’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 earnings per share. On average, sell-side analysts anticipate that United States Steel Co. will post 3.17 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 13th. Shareholders of record on Monday, February 12th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Friday, February 9th. United States Steel’s payout ratio is presently 5.70%.

Analysts Set New Price Targets

X has been the topic of a number of recent analyst reports. Wolfe Research upgraded shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a research report on Tuesday, April 9th. Morgan Stanley lowered shares of United States Steel from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $40.00 to $51.00 in a research report on Thursday, February 15th. BMO Capital Markets reduced their price target on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 19th. StockNews.com started coverage on shares of United States Steel in a research report on Saturday. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of United States Steel in a research report on Friday, January 12th. They set a “neutral” rating and a $52.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, United States Steel presently has a consensus rating of “Hold” and a consensus price target of $37.89.

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.