ICA Group Wealth Management LLC Takes $54,000 Position in United States Steel Co. (NYSE:X)

ICA Group Wealth Management LLC purchased a new position in shares of United States Steel Co. (NYSE:X) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,100 shares of the basic materials company’s stock, valued at approximately $54,000.

Other hedge funds have also bought and sold shares of the company. Third Point LLC increased its stake in shares of United States Steel by 15.8% in the fourth quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock worth $267,575,000 after acquiring an additional 750,000 shares during the period. Donald Smith & CO. Inc. grew its position in United States Steel by 11.0% during the 4th quarter. Donald Smith & CO. Inc. now owns 4,513,531 shares of the basic materials company’s stock worth $219,583,000 after purchasing an additional 447,186 shares during the period. KGH Ltd raised its stake in shares of United States Steel by 7.5% during the 3rd quarter. KGH Ltd now owns 4,488,769 shares of the basic materials company’s stock valued at $145,795,000 after buying an additional 315,000 shares during the last quarter. Norges Bank acquired a new position in shares of United States Steel in the 4th quarter valued at about $200,952,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of United States Steel by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,498,737 shares of the basic materials company’s stock worth $121,564,000 after buying an additional 94,080 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

United States Steel Price Performance

United States Steel stock traded down $0.44 during midday trading on Monday, reaching $36.98. The company had a trading volume of 2,431,656 shares, compared to its average volume of 4,636,803. United States Steel Co. has a 12-month low of $20.40 and a 12-month high of $50.20. The firm’s fifty day simple moving average is $42.26 and its 200-day simple moving average is $41.47. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.76 and a quick ratio of 1.22. The company has a market capitalization of $8.31 billion, a P/E ratio of 10.54 and a beta of 2.01.

United States Steel (NYSE:X) last issued its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.46. United States Steel had a return on equity of 10.80% and a net margin of 4.96%. The firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same period in the previous year, the company posted $0.87 earnings per share. The business’s revenue was down 4.5% on a year-over-year basis. As a group, equities analysts anticipate that United States Steel Co. will post 2.99 EPS for the current year.

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 12th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Friday, February 9th. United States Steel’s dividend payout ratio is currently 5.70%.

Wall Street Analyst Weigh In

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

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.