Sanders Morris Harris LLC Grows Position in United States Steel Co. (NYSE:X)

Sanders Morris Harris LLC grew its position in shares of United States Steel Co. (NYSE:X) by 104.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,984 shares of the basic materials company’s stock after purchasing an additional 26,000 shares during the quarter. Sanders Morris Harris LLC’s holdings in United States Steel were worth $1,653,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. ORG Wealth Partners LLC purchased a new position in United States Steel during the fourth quarter worth approximately $30,000. Palouse Capital Management Inc. acquired a new position in shares of United States Steel during the 3rd quarter worth approximately $35,000. Gladius Capital Management LP purchased a new position in shares of United States Steel during the 3rd quarter valued at approximately $39,000. GAMMA Investing LLC grew its stake 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 valued at $45,000 after acquiring an additional 442 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in United States Steel in the 3rd quarter worth $59,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

United States Steel Trading Up 0.8 %

Shares of X opened at $36.80 on Thursday. 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 firm has a 50-day moving average price of $35.84 and a 200 day moving average price of $37.21. United States Steel Co. has a 12-month low of $26.92 and a 12-month high of $48.85. The firm has a market capitalization of $8.29 billion, a P/E ratio of 24.21 and a beta of 1.88.

United States Steel (NYSE:X) last announced 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. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the firm earned $1.36 EPS. The business’s revenue was down 13.0% compared to the same quarter last year. Sell-side analysts forecast that United States Steel Co. will post 1.99 EPS for the current year.

United States Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Monday, November 11th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.20 annualized dividend and a yield of 0.54%. United States Steel’s dividend payout ratio (DPR) is currently 13.16%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on X shares. Bank of America started coverage on United States Steel in a report on Monday, January 6th. They issued a “neutral” rating and a $35.00 price objective on the stock. BMO Capital Markets reduced their price objective on 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. Finally, Jefferies Financial Group dropped their target price on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.32.

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.