Ancora Advisors LLC Makes New $16.36 Million Investment in United States Steel Co. (NYSE:X)

Ancora Advisors LLC purchased a new position in shares of United States Steel Co. (NYSE:X) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 481,250 shares of the basic materials company’s stock, valued at approximately $16,358,000.

A number of other institutional investors and hedge funds have also made changes to their positions in X. Bessemer Group Inc. increased its position in United States Steel by 64.0% in the 4th quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 277 shares during the period. CIBC Asset Management Inc increased its holdings in shares of United States Steel by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 6,880 shares of the basic materials company’s stock valued at $234,000 after purchasing an additional 366 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of United States Steel by 0.8% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,730 shares of the basic materials company’s stock worth $1,690,000 after purchasing an additional 412 shares during the last quarter. Covestor Ltd lifted its holdings in shares of United States Steel by 17.2% during the fourth quarter. Covestor Ltd now owns 2,891 shares of the basic materials company’s stock worth $98,000 after purchasing an additional 424 shares during the period. Finally, GAMMA Investing LLC grew its position in United States Steel by 50.0% in the 4th quarter. GAMMA Investing LLC now owns 1,326 shares of the basic materials company’s stock valued at $45,000 after buying an additional 442 shares during the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

United States Steel Price Performance

NYSE:X opened at $44.07 on Friday. United States Steel Co. has a 12-month low of $26.92 and a 12-month high of $46.18. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 1.53 and a beta of 1.79. The company’s 50-day moving average is $40.99 and its two-hundred day moving average is $38.30. The company has a current ratio of 1.55, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last announced its earnings results on Thursday, May 1st. The basic materials company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.04). The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.54 billion. United States Steel had a return on equity of 4.27% and a net margin of 2.46%. The firm’s revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. Research analysts expect that United States Steel Co. will post 1.43 EPS for the current year.

United States Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Monday, May 12th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.45%. United States Steel’s dividend payout ratio (DPR) is 13.42%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on X. BMO Capital Markets reissued a “market perform” rating and set a $45.00 price target on shares of United States Steel in a report on Monday, March 31st. Morgan Stanley raised their target price on United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday, March 7th. Bank of America began coverage on shares of United States Steel in a report on Monday, January 6th. They issued a “neutral” rating and a $35.00 price target for the company. Jefferies Financial Group reduced their price target on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $38.00 price objective (down from $43.00) on shares of United States Steel in a report on Wednesday, April 16th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $39.94.

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.