Meridian Wealth Management LLC Takes Position in United States Steel Co. (NYSE:X)

Meridian Wealth Management LLC bought a new position in United States Steel Co. (NYSE:X) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 21,000 shares of the basic materials company’s stock, valued at approximately $1,022,000.

A number of other institutional investors have also recently added to or reduced their stakes in X. Third Point LLC acquired a new position in shares of United States Steel during the 3rd quarter valued at $154,280,000. Laurion Capital Management LP bought a new position in shares of United States Steel in the third quarter valued at $50,912,000. Segantii Capital Management Ltd bought a new stake in shares of United States Steel during the fourth quarter worth about $68,840,000. Alpine Associates Management Inc. acquired a new stake in shares of United States Steel in the 4th quarter worth about $37,091,000. Finally, International Assets Investment Management LLC boosted its stake in United States Steel by 4,057.9% during the 4th quarter. International Assets Investment Management LLC now owns 747,553 shares of the basic materials company’s stock valued at $36,368,000 after purchasing an additional 729,574 shares during the last quarter. 81.92% of the stock is owned by institutional investors.

United States Steel Stock Performance

NYSE X opened at $35.91 on Friday. The firm has a market cap of $8.07 billion, a price-to-earnings ratio of 10.53 and a beta of 2.06. The company has a 50-day simple moving average of $39.55 and a two-hundred day simple moving average of $41.82. The company has a quick ratio of 1.14, a current ratio of 1.71 and a debt-to-equity ratio of 0.36. United States Steel Co. has a 12-month low of $20.40 and a 12-month high of $50.20.

United States Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Monday, May 13th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Friday, May 10th. United States Steel’s payout ratio is 5.87%.

Wall Street Analysts Forecast Growth

X has been the topic of a number of research analyst reports. Wolfe Research upgraded United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a research note on Tuesday, April 9th. StockNews.com initiated coverage on United States Steel in a research note on Wednesday. They set a “hold” rating on the stock. JPMorgan Chase & Co. decreased their price objective on shares of United States Steel from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Morgan Stanley upgraded shares of United States Steel from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $51.00 to $48.00 in a research note on Monday, May 6th. Finally, BMO Capital Markets lowered 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 report on Tuesday, March 19th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $38.00.

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.