Everence Capital Management Inc. Takes Position in United States Steel Co. (NYSE:X)

Everence Capital Management Inc. bought a new position in United States Steel Co. (NYSE:X) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 6,520 shares of the basic materials company’s stock, valued at approximately $222,000.

Several other institutional investors also recently modified their holdings of the business. Rockefeller Capital Management L.P. boosted its position in United States Steel by 646.0% in the third quarter. Rockefeller Capital Management L.P. now owns 506,694 shares of the basic materials company’s stock worth $17,902,000 after purchasing an additional 438,771 shares during the last quarter. Geode Capital Management LLC grew its position in United States Steel by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,839,684 shares of the basic materials company’s stock valued at $135,691,000 after buying an additional 37,528 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in United States Steel by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,600,708 shares of the basic materials company’s stock valued at $91,883,000 after buying an additional 28,293 shares during the last quarter. Water Island Capital LLC increased its position in United States Steel by 5.3% in the second quarter. Water Island Capital LLC now owns 906,092 shares of the basic materials company’s stock worth $34,250,000 after buying an additional 45,567 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in United States Steel during the 3rd quarter worth approximately $608,000. 81.92% of the stock is currently owned by institutional investors.

United States Steel Stock Performance

X opened at $32.74 on Thursday. United States Steel Co. has a 12-month low of $26.92 and a 12-month high of $48.85. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $7.37 billion, a PE ratio of 21.54 and a beta of 1.88. The firm has a 50 day moving average of $36.25 and a two-hundred day moving average of $37.26.

United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the company earned $1.36 EPS. The firm’s revenue for the quarter was down 13.0% compared to the same quarter last year. On average, analysts anticipate that United States Steel Co. will post 2.17 EPS for the current year.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Friday, November 8th. United States Steel’s payout ratio is 13.16%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on X. BMO Capital Markets decreased their price target on United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Jefferies Financial Group dropped 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 report on Monday. Finally, Bank of America started coverage on shares of United States Steel in a research report on Monday. They issued a “neutral” rating and a $35.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, United States Steel presently has an average rating of “Moderate Buy” and an average price target of $41.32.

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.