Mather Group LLC. Raises Stock Holdings in United States Steel Co. (NYSE:X)

Mather Group LLC. increased its position in United States Steel Co. (NYSE:X) by 3,673.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,319 shares of the basic materials company’s stock after purchasing an additional 11,019 shares during the period. Mather Group LLC.’s holdings in United States Steel were worth $462,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in X. Pacific Capital Wealth Advisors Inc. bought a new stake in United States Steel in the fourth quarter worth $25,000. Byrne Asset Management LLC boosted its holdings in United States Steel by 1,140.0% in the first quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 570 shares in the last quarter. GAMMA Investing LLC bought a new stake in United States Steel in the fourth quarter worth $33,000. Riverview Trust Co bought a new stake in United States Steel in the first quarter worth $29,000. Finally, Pineridge Advisors LLC bought a new stake in United States Steel in the fourth quarter worth $44,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

United States Steel Price Performance

NYSE:X traded up $1.04 during trading hours on Tuesday, reaching $39.85. The stock had a trading volume of 2,309,865 shares, compared to its average volume of 3,751,912. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.71. United States Steel Co. has a 52 week low of $22.26 and a 52 week high of $50.20. The company has a 50 day moving average price of $38.30 and a two-hundred day moving average price of $40.84. The stock has a market capitalization of $8.96 billion, a PE ratio of 11.62 and a beta of 1.93.

United States Steel (NYSE:X) last announced its earnings results on Thursday, August 1st. The basic materials company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.01 billion. United States Steel had a return on equity of 7.98% and a net margin of 3.40%. The company’s quarterly revenue was down 17.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.92 EPS. As a group, sell-side analysts anticipate that United States Steel Co. will post 2.38 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Monday, August 12th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Monday, August 12th. United States Steel’s payout ratio is currently 5.87%.

Analyst Ratings Changes

X has been the topic of several recent analyst reports. BMO Capital Markets raised United States Steel from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $43.00 to $45.00 in a research report on Wednesday, June 26th. Wolfe Research raised United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective on the stock in a research report on Tuesday, April 9th. JPMorgan Chase & Co. dropped their target price on United States Steel from $43.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 16th. Morgan Stanley raised United States Steel from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $51.00 to $48.00 in a research report on Monday, May 6th. Finally, Jefferies Financial Group started coverage on United States Steel in a research report on Monday, May 20th. They issued a “buy” rating and a $45.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.00.

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.