Van ECK Associates Corp Increases Stock Position in United States Steel Co. (NYSE:X)

Van ECK Associates Corp lifted its position in shares of United States Steel Co. (NYSE:X) by 26.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 477,016 shares of the basic materials company’s stock after buying an additional 99,665 shares during the period. Van ECK Associates Corp owned approximately 0.21% of United States Steel worth $16,214,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Rakuten Securities Inc. lifted its position in United States Steel by 9.2% during the third quarter. Rakuten Securities Inc. now owns 3,328 shares of the basic materials company’s stock valued at $118,000 after buying an additional 279 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of United States Steel by 0.7% during the 3rd quarter. D.A. Davidson & CO. now owns 44,450 shares of the basic materials company’s stock valued at $1,570,000 after acquiring an additional 301 shares in the last quarter. Arkadios Wealth Advisors boosted its position in United States Steel by 1.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 18,635 shares of the basic materials company’s stock worth $658,000 after purchasing an additional 306 shares during the period. Captrust Financial Advisors boosted its position in United States Steel by 4.8% during the 3rd quarter. Captrust Financial Advisors now owns 7,012 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 321 shares during the period. Finally, Creative Planning increased its holdings in United States Steel by 2.0% in the 3rd quarter. Creative Planning now owns 18,340 shares of the basic materials company’s stock valued at $648,000 after purchasing an additional 360 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

United States Steel Trading Down 1.0 %

X opened at $38.42 on Friday. United States Steel Co. has a 12-month low of $26.92 and a 12-month high of $48.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91. The stock has a market capitalization of $8.65 billion, a PE ratio of 25.79, a P/E/G ratio of 1.30 and a beta of 1.86. The firm’s fifty day moving average price is $35.00 and its 200 day moving average price is $36.95.

United States Steel (NYSE:X) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts expect that United States Steel Co. will post 1.75 EPS for the current fiscal year.

United States Steel Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Monday, February 10th. United States Steel’s dividend payout ratio is presently 13.42%.

Analyst Ratings Changes

X has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective on United States Steel from $44.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Bank of America initiated coverage on United States Steel in a research report on Monday, January 6th. They set a “neutral” rating and a $35.00 price target on the stock. BMO Capital Markets lowered their price objective on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Jefferies Financial Group reduced their target price on shares of 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. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $39.00 price target on shares of United States Steel in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, United States Steel presently has an average rating of “Moderate Buy” and a consensus price target of $39.82.

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.