Palouse Capital Management Inc. Makes New $35,000 Investment in United States Steel Co. (NYSE:X)

Palouse Capital Management Inc. bought a new stake in United States Steel Co. (NYSE:X) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,000 shares of the basic materials company’s stock, valued at approximately $35,000.

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

United States Steel Trading Up 2.3 %

Shares of United States Steel stock traded up $0.87 on Monday, hitting $38.69. The stock had a trading volume of 1,704,444 shares, compared to its average volume of 4,393,104. The stock has a 50 day moving average of $36.72 and a 200 day moving average of $37.82. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.72. United States Steel Co. has a twelve month low of $26.92 and a twelve month high of $50.20. The firm has a market capitalization of $8.70 billion, a P/E ratio of 16.83 and a beta of 1.87.

United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.12. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.01 billion. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The company’s revenue for the quarter was down 17.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.92 earnings per share. Sell-side analysts expect that United States Steel Co. will post 2.17 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 12th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Monday, August 12th. United States Steel’s payout ratio is presently 8.93%.

Wall Street Analysts Forecast Growth

X has been the subject of a number of analyst reports. 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 research note on Monday, September 9th. JPMorgan Chase & Co. upgraded shares of United States Steel from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $40.00 to $42.00 in a research report on Monday, September 9th. Jefferies Financial Group decreased their price objective on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. StockNews.com started coverage on United States Steel in a research note on Monday, August 19th. They set a “hold” rating for the company. Finally, Morgan Stanley lifted their price target on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.62.

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.