Sequoia Financial Advisors LLC Makes New $351,000 Investment in United States Steel Co. (NYSE:X)

Sequoia Financial Advisors LLC acquired a new stake in shares of United States Steel Co. (NYSE:X) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,336 shares of the basic materials company’s stock, valued at approximately $351,000.

Several other large investors have also recently modified their holdings of the stock. Ameliora Wealth Management Ltd. bought a new position in United States Steel during the 4th quarter worth approximately $27,000. ORG Wealth Partners LLC bought a new position in shares of United States Steel in the fourth quarter worth approximately $30,000. Newbridge Financial Services Group Inc. bought a new position in shares of United States Steel in the fourth quarter worth approximately $34,000. Smithfield Trust Co raised its holdings in United States Steel by 903.0% during the 4th quarter. Smithfield Trust Co now owns 1,003 shares of the basic materials company’s stock valued at $34,000 after buying an additional 903 shares during the last quarter. Finally, Byrne Asset Management LLC raised its holdings in United States Steel by 4,680.0% during the 4th quarter. Byrne Asset Management LLC now owns 1,195 shares of the basic materials company’s stock valued at $41,000 after buying an additional 1,170 shares during the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

United States Steel Stock Performance

Shares of United States Steel stock opened at $41.71 on Wednesday. United States Steel Co. has a 12 month low of $26.92 and a 12 month high of $43.35. The firm has a market capitalization of $9.39 billion, a P/E ratio of 28.00, a P/E/G ratio of 1.53 and a beta of 1.86. 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 business has a fifty day simple moving average of $37.40 and a two-hundred day simple moving average of $36.68.

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

United States Steel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.48%. United States Steel’s payout ratio is currently 13.42%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on X. Jefferies Financial Group decreased their price objective on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. BMO Capital Markets dropped their price objective on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, December 20th. JPMorgan Chase & Co. boosted their target price on United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Morgan Stanley raised their price target on United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, March 7th. Finally, Bank of America initiated coverage on shares of United States Steel in a research report on Monday, January 6th. They set a “neutral” rating and a $35.00 price objective on the stock. 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.70.

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.