Meridian Investment Counsel Inc. Purchases 600 Shares of United States Steel Co. (NYSE:X)

Meridian Investment Counsel Inc. raised its stake in shares of United States Steel Co. (NYSE:X) by 4.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,700 shares of the basic materials company’s stock after buying an additional 600 shares during the period. Meridian Investment Counsel Inc.’s holdings in United States Steel were worth $500,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Ameliora Wealth Management Ltd. bought a new position in United States Steel in the 4th quarter worth approximately $27,000. ORG Wealth Partners LLC purchased a new stake in shares of United States Steel in the fourth quarter worth $30,000. Parkworth Wealth Management Inc. bought a new position in United States Steel in the 4th quarter worth about $31,000. Lee Danner & Bass Inc. bought a new stake in shares of United States Steel during the 4th quarter valued at about $32,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of United States Steel in the fourth quarter worth approximately $34,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on X shares. Bank of America initiated coverage on United States Steel in a report on Monday, January 6th. They set a “neutral” rating and a $35.00 price objective on the stock. BMO Capital Markets lifted their price target on shares of United States Steel from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, March 21st. Morgan Stanley upped their price target on United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, March 7th. Jefferies Financial Group decreased their target price 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, January 6th. Finally, JPMorgan Chase & Co. upped their price objective on United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.32.

United States Steel Price Performance

Shares of United States Steel stock opened at $43.00 on Monday. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55. The stock has a 50 day moving average price of $38.52 and a 200-day moving average price of $37.21. United States Steel Co. has a one year low of $26.92 and a one year high of $44.87.

United States Steel (NYSE:X) last posted its quarterly earnings data 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 analysts expect that United States Steel Co. will post 1.43 EPS for the current year.

United States Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were given a dividend of $0.05 per share. The ex-dividend date was Monday, February 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.47%. United States Steel’s dividend payout ratio (DPR) is presently 13.42%.

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.