Meridian Wealth Management LLC Makes New Investment in United States Steel Co. (NYSE:X)

Meridian Wealth Management LLC purchased a new stake in United States Steel Co. (NYSE:X - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 21,000 shares of the basic materials company's stock, valued at approximately $1,022,000.

Other institutional investors have also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC increased its stake in United States Steel by 0.9% during the fourth quarter. SummerHaven Investment Management LLC now owns 29,928 shares of the basic materials company's stock worth $1,456,000 after acquiring an additional 278 shares during the last quarter. D.A. Davidson & CO. raised its holdings in United States Steel by 0.9% in the 3rd quarter. D.A. Davidson & CO. now owns 32,770 shares of the basic materials company's stock valued at $1,064,000 after buying an additional 307 shares during the period. Quadrant Capital Group LLC lifted its position in United States Steel by 18.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,004 shares of the basic materials company's stock valued at $97,000 after buying an additional 313 shares during the last quarter. Yousif Capital Management LLC lifted its position in United States Steel by 0.3% in the fourth quarter. Yousif Capital Management LLC now owns 112,000 shares of the basic materials company's stock valued at $5,449,000 after buying an additional 372 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in United States Steel by 4.2% during the third quarter. PNC Financial Services Group Inc. now owns 10,969 shares of the basic materials company's stock worth $356,000 after buying an additional 444 shares during the period. Hedge funds and other institutional investors own 81.92% of the company's stock.

United States Steel Stock Performance

United States Steel stock traded down $1.44 during trading hours on Friday, reaching $35.91. 6,223,408 shares of the stock were exchanged, compared to its average volume of 2,684,892. United States Steel Co. has a 52-week low of $20.40 and a 52-week high of $50.20. The stock has a market cap of $8.07 billion, a P/E ratio of 10.53 and a beta of 2.06. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.71. The firm's 50 day moving average is $39.55 and its 200 day moving average is $41.82.

United States Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Monday, May 13th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.56%. The ex-dividend date is Friday, May 10th. United States Steel's payout ratio is 5.87%.

Analysts Set New Price Targets

X has been the topic of several research reports. StockNews.com assumed coverage on United States Steel in a research note on Wednesday. They set a "hold" rating on the stock. Wolfe Research raised shares of United States Steel from a "peer perform" rating to an "outperform" rating and set a $46.00 price objective for the company in a research note on Tuesday, April 9th. BMO Capital Markets dropped their price objective on shares of United States Steel from $55.00 to $45.00 and set a "market perform" rating for the company in a report on Tuesday, March 19th. Morgan Stanley raised United States Steel from an "equal weight" rating to an "overweight" rating and cut their price objective for the stock from $51.00 to $48.00 in a research report on Monday, May 6th. Finally, JPMorgan Chase & Co. decreased their target price on United States Steel from $47.00 to $43.00 and set a "neutral" rating for the company in a report on Friday, May 3rd. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $38.00.

About United States Steel

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.