Rakuten Securities Inc. Acquires New Holdings in United States Steel Co. (NYSE:X)

Rakuten Securities Inc. acquired a new position in United States Steel Co. (NYSE:X) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,082 shares of the basic materials company’s stock, valued at approximately $53,000.

Other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of United States Steel by 7.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,945 shares of the basic materials company’s stock worth $3,306,000 after acquiring an additional 4,944 shares in the last quarter. Waldron Private Wealth LLC bought a new position in United States Steel in the fourth quarter worth about $737,000. Strs Ohio lifted its position in shares of United States Steel by 12.7% during the fourth quarter. Strs Ohio now owns 34,326 shares of the basic materials company’s stock valued at $1,669,000 after buying an additional 3,879 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of United States Steel in the 4th quarter valued at about $3,045,000. Finally, Simplicity Solutions LLC bought a new stake in shares of United States Steel in the 4th quarter valued at about $224,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wolfe Research upgraded shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective for the company in a research note on Tuesday, April 9th. JPMorgan Chase & Co. started coverage on United States Steel in a research report on Friday, January 12th. They set a “neutral” rating and a $52.00 price target on the stock. Morgan Stanley cut United States Steel from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $40.00 to $51.00 in a research report on Thursday, February 15th. BMO Capital Markets reduced their target price on United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 19th. Finally, StockNews.com initiated coverage on United States Steel in a research note on Saturday, April 13th. They issued a “hold” rating for the company. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $37.89.

United States Steel Stock Performance

Shares of X stock opened at $39.12 on Thursday. The business has a fifty day moving average of $43.56 and a 200 day moving average of $41.15. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 11.15 and a beta of 2.00. United States Steel Co. has a 1 year low of $20.40 and a 1 year high of $50.20. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.76 and a quick ratio of 1.22.

United States Steel (NYSE:X) last announced its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.46. The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.73 billion. United States Steel had a return on equity of 10.80% and a net margin of 4.96%. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period last year, the firm earned $0.87 EPS. As a group, research analysts expect that United States Steel Co. will post 3.15 earnings per share for the current year.

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 12th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Friday, February 9th. United States Steel’s dividend payout ratio (DPR) is presently 5.70%.

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.