Byrne Asset Management LLC Raises Stock Holdings in United States Steel Co. (NYSE:X)

Byrne Asset Management LLC raised its position in shares of United States Steel Co. (NYSE:X) by 4,680.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,195 shares of the basic materials company’s stock after buying an additional 1,170 shares during the quarter. Byrne Asset Management LLC’s holdings in United States Steel were worth $41,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of X. Ameliora Wealth Management Ltd. purchased a new position in United States Steel during the fourth quarter valued at $27,000. Retirement Systems of Alabama raised its position in shares of United States Steel by 0.7% in the 4th quarter. Retirement Systems of Alabama now owns 273,788 shares of the basic materials company’s stock worth $9,306,000 after purchasing an additional 2,008 shares during the last quarter. E. Ohman J or Asset Management AB bought a new position in United States Steel in the 4th quarter worth about $17,907,000. Spire Wealth Management purchased a new stake in United States Steel during the 4th quarter valued at about $65,000. Finally, Heck Capital Advisors LLC bought a new stake in United States Steel during the 4th quarter valued at about $554,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on X. BMO Capital Markets cut their price target on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Bank of America assumed coverage on United States Steel in a research note on Monday, January 6th. They issued a “neutral” rating and a $35.00 price target for the company. Jefferies Financial Group dropped their price objective on 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. Morgan Stanley restated 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of United States Steel from $44.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.82.

United States Steel Stock Down 5.9 %

X opened at $36.96 on Friday. United States Steel Co. has a 1-year low of $26.92 and a 1-year high of $48.13. The firm’s 50 day simple moving average is $35.09 and its two-hundred day simple moving average is $37.03. 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 company has a market capitalization of $8.32 billion, a PE ratio of 24.80, a PEG ratio of 1.30 and a beta of 1.86.

United States Steel (NYSE:X) last released 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%. As a group, equities analysts forecast that United States Steel Co. will post 1.75 EPS for the current year.

United States Steel Announces Dividend

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

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.