Newbridge Financial Services Group Inc. Takes $34,000 Position in United States Steel Co. (NYSE:X)

Newbridge Financial Services Group Inc. bought a new stake in United States Steel Co. (NYSE:X) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,000 shares of the basic materials company’s stock, valued at approximately $34,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Empirical Asset Management LLC acquired a new stake in shares of United States Steel in the fourth quarter valued at approximately $525,000. ARS Investment Partners LLC acquired a new stake in shares of United States Steel in the fourth quarter valued at approximately $15,510,000. Rockefeller Capital Management L.P. increased its holdings in shares of United States Steel by 646.0% in the third quarter. Rockefeller Capital Management L.P. now owns 506,694 shares of the basic materials company’s stock valued at $17,902,000 after purchasing an additional 438,771 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of United States Steel by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,839,684 shares of the basic materials company’s stock valued at $135,691,000 after purchasing an additional 37,528 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of United States Steel by 1.1% in the third 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 purchasing an additional 28,293 shares during the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on X. Morgan Stanley reissued an “equal weight” rating and set a $39.00 target price on shares of United States Steel in a research note on Monday, February 3rd. Bank of America began coverage on United States Steel in a research note on Monday, January 6th. They set a “neutral” rating and a $35.00 target price for the company. BMO Capital Markets cut their target price 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. Jefferies Financial Group cut their target price on 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, JPMorgan Chase & Co. cut their target price on United States Steel from $44.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.82.

United States Steel Stock Up 1.5 %

Shares of NYSE X opened at $39.29 on Wednesday. United States Steel Co. has a 1 year low of $26.92 and a 1 year high of $48.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91. The company has a market capitalization of $8.85 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 1.30 and a beta of 1.86. The business has a 50-day moving average of $34.96 and a two-hundred day moving average of $36.97.

United States Steel (NYSE:X) last posted its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share for the quarter, missing the consensus estimate 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, analysts forecast that United States Steel Co. will post 1.75 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Monday, February 10th. United States Steel’s payout ratio is 13.42%.

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.