United States Steel Co. (NYSE:X) Shares Bought by M&T Bank Corp

M&T Bank Corp increased its holdings in United States Steel Co. (NYSE:X) by 10.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,348 shares of the basic materials company’s stock after purchasing an additional 1,084 shares during the quarter. M&T Bank Corp’s holdings in United States Steel were worth $552,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. increased its stake in United States Steel by 308.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 331,492 shares of the basic materials company’s stock worth $16,127,000 after buying an additional 250,311 shares in the last quarter. FNY Investment Advisers LLC lifted its stake in United States Steel by 16,065.0% during the fourth quarter. FNY Investment Advisers LLC now owns 32,330 shares of the basic materials company’s stock worth $1,572,000 after purchasing an additional 32,130 shares in the last quarter. International Assets Investment Management LLC lifted its stake in United States Steel by 4,057.9% during the fourth quarter. International Assets Investment Management LLC now owns 747,553 shares of the basic materials company’s stock worth $36,368,000 after purchasing an additional 729,574 shares in the last quarter. SG Americas Securities LLC lifted its stake in United States Steel by 1,132.8% during the fourth quarter. SG Americas Securities LLC now owns 115,715 shares of the basic materials company’s stock worth $5,630,000 after purchasing an additional 106,329 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in United States Steel during the fourth quarter worth $3,045,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on X. BMO Capital Markets decreased their price target on United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 19th. JPMorgan Chase & Co. decreased their price target on United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Wolfe Research upgraded United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a research note on Tuesday, April 9th. StockNews.com began coverage on United States Steel in a research note on Tuesday, May 7th. They issued a “hold” rating on the stock. Finally, Morgan Stanley upgraded United States Steel from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $51.00 to $48.00 in a research note on Monday, May 6th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $38.00.

United States Steel Stock Down 0.1 %

Shares of NYSE X opened at $37.98 on Tuesday. The stock has a market cap of $8.54 billion, a P/E ratio of 11.14 and a beta of 2.06. The company has a current ratio of 1.71, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. United States Steel Co. has a 12-month low of $20.40 and a 12-month high of $50.20. The business’s fifty day simple moving average is $40.55 and its 200-day simple moving average is $41.79.

United States Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Monday, May 13th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.53%. The ex-dividend date is Friday, May 10th. United States Steel’s dividend payout ratio (DPR) is presently 5.87%.

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.