Parkworth Wealth Management Inc. Makes New $31,000 Investment in United States Steel Co. (NYSE:X)

Parkworth Wealth Management Inc. acquired a new position in shares of United States Steel Co. (NYSE:X) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 921 shares of the basic materials company’s stock, valued at approximately $31,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of X. Rakuten Securities Inc. boosted its holdings in shares of United States Steel by 9.2% in the third quarter. Rakuten Securities Inc. now owns 3,328 shares of the basic materials company’s stock valued at $118,000 after acquiring an additional 279 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of United States Steel by 0.7% in the third 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. Captrust Financial Advisors boosted its holdings in shares of United States Steel by 4.8% in the third quarter. Captrust Financial Advisors now owns 7,012 shares of the basic materials company’s stock valued at $248,000 after acquiring an additional 321 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of United States Steel by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 6,880 shares of the basic materials company’s stock valued at $234,000 after acquiring an additional 366 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its holdings in shares of United States Steel by 5.0% in the third quarter. Moors & Cabot Inc. now owns 8,005 shares of the basic materials company’s stock valued at $283,000 after acquiring an additional 380 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

United States Steel Stock Performance

Shares of X opened at $37.08 on Wednesday. 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 has a market cap of $8.35 billion, a P/E ratio of 24.89, a PEG ratio of 1.53 and a beta of 1.86. The company has a 50-day moving average of $36.74 and a two-hundred day moving average of $36.63. United States Steel Co. has a 12-month low of $26.92 and a 12-month high of $47.32.

United States Steel (NYSE:X) last announced 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 return on equity of 4.27% and a net margin of 2.46%. As a group, research analysts predict that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Monday, February 10th. United States Steel’s payout ratio is currently 13.42%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on X. JPMorgan Chase & Co. lifted their target price on shares of United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday. Bank of America initiated coverage on shares of United States Steel in a research note on Monday, January 6th. They issued a “neutral” rating and a $35.00 price objective for the company. Jefferies Financial Group reduced their price objective on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, January 6th. BMO Capital Markets reduced 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 note on Friday, December 20th. Finally, Morgan Stanley raised their price objective on shares of United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $40.70.

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.