Ancora Advisors LLC Buys New Shares in United States Steel Co. (NYSE:X)

Ancora Advisors LLC purchased a new stake in shares of United States Steel Co. (NYSE:X) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 481,250 shares of the basic materials company’s stock, valued at approximately $16,358,000. Ancora Advisors LLC owned about 0.21% of United States Steel as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aristeia Capital L.L.C. raised its stake in shares of United States Steel by 36.9% during the 4th quarter. Aristeia Capital L.L.C. now owns 13,555 shares of the basic materials company’s stock valued at $461,000 after buying an additional 3,655 shares during the last quarter. Absolute Gestao de Investimentos Ltda. acquired a new position in United States Steel in the fourth quarter valued at approximately $1,632,000. Mercer Global Advisors Inc. ADV boosted its position in United States Steel by 13.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 17,505 shares of the basic materials company’s stock worth $595,000 after purchasing an additional 2,079 shares in the last quarter. Electron Capital Partners LLC acquired a new stake in shares of United States Steel during the 4th quarter worth approximately $12,363,000. Finally, Northern Trust Corp lifted its stake in shares of United States Steel by 26.5% in the 4th quarter. Northern Trust Corp now owns 1,994,447 shares of the basic materials company’s stock valued at $67,791,000 after purchasing an additional 418,109 shares during the period. Institutional investors and hedge funds own 81.92% of the company’s stock.

United States Steel Price Performance

X opened at $44.07 on Friday. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 1.53 and a beta of 1.79. 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 stock’s 50-day moving average price is $40.99 and its 200 day moving average price is $38.30. United States Steel Co. has a 12-month low of $26.92 and a 12-month high of $46.18.

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

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Monday, May 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 0.45%. The ex-dividend date of this dividend is Monday, May 12th. United States Steel’s dividend payout ratio (DPR) is 13.42%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on X. Jefferies Financial Group dropped their target price 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. Bank of America initiated coverage on United States Steel in a report on Monday, January 6th. They issued a “neutral” rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $38.00 price target (down from $43.00) on shares of United States Steel in a research note on Wednesday, April 16th. BMO Capital Markets restated a “market perform” rating and issued a $45.00 price target on shares of United States Steel in a research report on Monday, March 31st. Finally, Morgan Stanley upped 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. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $39.94.

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.