Lake Hills Wealth Management LLC Grows Stock Holdings in United States Steel Co. (NYSE:X)

Lake Hills Wealth Management LLC grew its holdings in shares of United States Steel Co. (NYSE:X) by 47.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,464 shares of the basic materials company’s stock after purchasing an additional 3,045 shares during the quarter. Lake Hills Wealth Management LLC’s holdings in United States Steel were worth $334,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in X. Water Island Capital LLC lifted its position in United States Steel by 5.3% during the second quarter. Water Island Capital LLC now owns 906,092 shares of the basic materials company’s stock valued at $34,250,000 after buying an additional 45,567 shares in the last quarter. KGH Ltd lifted its holdings in shares of United States Steel by 68.2% during the 2nd quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock valued at $160,839,000 after acquiring an additional 1,724,670 shares in the last quarter. Janus Henderson Group PLC boosted its position in United States Steel by 94.3% during the 1st quarter. Janus Henderson Group PLC now owns 211,043 shares of the basic materials company’s stock worth $8,601,000 after purchasing an additional 102,450 shares during the period. Cannon Global Investment Management LLC acquired a new stake in United States Steel in the 1st quarter valued at $2,055,000. Finally, Gamco Investors INC. ET AL raised its position in United States Steel by 146.4% in the first quarter. Gamco Investors INC. ET AL now owns 26,000 shares of the basic materials company’s stock valued at $1,060,000 after purchasing an additional 15,450 shares during the period. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

United States Steel Price Performance

Shares of X traded up $1.20 during trading hours on Friday, hitting $36.61. 2,199,561 shares of the company were exchanged, compared to its average volume of 5,161,450. The firm has a fifty day simple moving average of $37.04 and a 200-day simple moving average of $37.98. The company has a market capitalization of $8.24 billion, a PE ratio of 16.34 and a beta of 1.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.72 and a quick ratio of 1.14. United States Steel Co. has a one year low of $26.92 and a one year high of $50.20.

United States Steel (NYSE:X) last released its earnings results on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.12. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the firm posted $1.92 earnings per share. The firm’s quarterly revenue was down 17.8% compared to the same quarter last year. As a group, sell-side analysts predict that United States Steel Co. will post 2.18 earnings per share for the current year.

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 12th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Monday, August 12th. United States Steel’s dividend payout ratio is currently 8.93%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. BMO Capital Markets upgraded shares of United States Steel from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $43.00 to $45.00 in a research note on Wednesday, June 26th. Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price target for the company in a report on Monday, September 9th. BNP Paribas raised shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target for the company in a research report on Friday, September 6th. JPMorgan Chase & Co. upgraded shares of United States Steel from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $40.00 to $42.00 in a research note on Monday, September 9th. Finally, Jefferies Financial Group dropped their target price on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.62.

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.