Newbridge Financial Services Group Inc. Invests $34,000 in United States Steel Co. (NYSE:X)

Newbridge Financial Services Group Inc. bought a new stake in United States Steel Co. (NYSE:X) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,000 shares of the basic materials company’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameliora Wealth Management Ltd. purchased a new position in shares of United States Steel during the 4th quarter worth $27,000. ORG Wealth Partners LLC purchased a new position in shares of United States Steel during the 4th quarter worth $30,000. Palouse Capital Management Inc. purchased a new position in shares of United States Steel during the 3rd quarter worth $35,000. Gladius Capital Management LP purchased a new position in shares of United States Steel during the 3rd quarter worth $39,000. Finally, Byrne Asset Management LLC lifted its stake in shares of United States Steel by 4,680.0% during the 4th quarter. Byrne Asset Management LLC now owns 1,195 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 1,170 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

United States Steel Price Performance

Shares of NYSE:X opened at $39.29 on Wednesday. United States Steel Co. has a 12 month low of $26.92 and a 12 month high of $48.13. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.30 and a beta of 1.86. The stock’s 50 day moving average price is $34.96 and its 200 day moving average price is $36.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91.

United States Steel (NYSE:X) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. Equities research analysts anticipate that United States Steel Co. will post 1.75 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. United States Steel’s dividend payout ratio is currently 13.42%.

Analyst Ratings Changes

A number of research analysts have weighed in on X shares. Jefferies Financial Group reduced their price target on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Morgan Stanley reissued an “equal weight” rating and set a $39.00 price target on shares of United States Steel in a research note on Monday, February 3rd. BMO Capital Markets dropped their price objective on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Bank of America assumed coverage on United States Steel in a report on Monday, January 6th. They set a “neutral” rating and a $35.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price target on United States Steel from $44.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.