Parkworth Wealth Management Inc. Invests $31,000 in United States Steel Co. (NYSE:X)

Parkworth Wealth Management Inc. purchased a new position in shares of United States Steel Co. (NYSE:X) in the fourth quarter, HoldingsChannel reports. The fund purchased 921 shares of the basic materials company’s stock, valued at approximately $31,000.

A number of other hedge funds and other institutional investors have also modified their holdings of X. Ameliora Wealth Management Ltd. purchased a new stake in United States Steel in the fourth quarter valued at approximately $27,000. ORG Wealth Partners LLC purchased a new stake in United States Steel in the fourth quarter valued at approximately $30,000. Newbridge Financial Services Group Inc. purchased a new stake in United States Steel in the fourth quarter valued at approximately $34,000. Smithfield Trust Co grew its holdings in United States Steel by 903.0% in the fourth quarter. Smithfield Trust Co now owns 1,003 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 903 shares during the period. Finally, Gladius Capital Management LP purchased a new stake in United States Steel in the third quarter valued at approximately $39,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

United States Steel Trading Up 5.5 %

NYSE X opened at $37.08 on Wednesday. The company’s fifty day simple moving average is $36.74 and its 200-day simple moving average is $36.63. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $47.32. The company has a current ratio of 1.55, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The stock has a market cap of $8.35 billion, a P/E ratio of 24.89, a PEG ratio of 1.53 and a beta of 1.86.

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

United States Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. United States Steel’s payout ratio is currently 13.42%.

Wall Street Analysts Forecast Growth

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

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.