Meridian Wealth Management LLC Makes New Investment in United States Steel Co. (NYSE:X)

Meridian Wealth Management LLC bought a new position in United States Steel Co. (NYSE:X) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 20,009 shares of the basic materials company’s stock, valued at approximately $707,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in X. Donald Smith & CO. Inc. lifted its position in United States Steel by 7.4% during the 3rd quarter. Donald Smith & CO. Inc. now owns 4,719,845 shares of the basic materials company’s stock valued at $166,752,000 after acquiring an additional 326,876 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of United States Steel by 26.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,598,831 shares of the basic materials company’s stock valued at $162,477,000 after purchasing an additional 964,467 shares during the last quarter. KGH Ltd boosted its position in shares of United States Steel by 68.2% in the 2nd quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock worth $160,839,000 after purchasing an additional 1,724,670 shares in the last quarter. Alpine Associates Management Inc. grew its stake in shares of United States Steel by 13.5% in the 2nd quarter. Alpine Associates Management Inc. now owns 2,667,932 shares of the basic materials company’s stock worth $100,848,000 after buying an additional 316,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in United States Steel by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,600,708 shares of the basic materials company’s stock valued at $91,883,000 after buying an additional 28,293 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

United States Steel Trading Down 3.7 %

NYSE:X opened at $39.03 on Friday. The company has a 50 day simple moving average of $37.84 and a two-hundred day simple moving average of $37.85. The company has a market cap of $8.79 billion, a PE ratio of 25.68 and a beta of 1.86. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35. United States Steel Co. has a 12 month low of $26.92 and a 12 month high of $50.20.

United States Steel (NYSE:X) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.77 billion. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. United States Steel’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 earnings per share. Research analysts forecast that United States Steel Co. will post 2.21 earnings per share for the current year.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 11th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.20 annualized dividend and a yield of 0.51%. United States Steel’s dividend payout ratio (DPR) is 13.16%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on X. StockNews.com assumed coverage on United States Steel in a research note on Monday, August 19th. They issued a “hold” rating on the stock. Morgan Stanley lifted their target price on shares of United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. upgraded shares of United States Steel from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $40.00 to $42.00 in a research note on Monday, September 9th. Jefferies Financial Group reduced their price target on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Finally, Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective on the stock in a research report on Monday, September 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, United States Steel currently has an average rating of “Moderate Buy” and a consensus price target of $42.80.

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.