T. Rowe Price Investment Management Inc. Makes New Investment in United States Steel Co. (NYSE:X)

T. Rowe Price Investment Management Inc. acquired a new stake in shares of United States Steel Co. (NYSE:X - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 798,613 shares of the basic materials company's stock, valued at approximately $27,145,000. T. Rowe Price Investment Management Inc. owned about 0.35% of United States Steel as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Bessemer Group Inc. boosted its position in shares of United States Steel by 64.0% during the 4th quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company's stock worth $25,000 after purchasing an additional 277 shares during the period. CIBC Asset Management Inc increased its holdings in shares of United States Steel by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 6,880 shares of the basic materials company's stock valued at $234,000 after acquiring an additional 366 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of United States Steel by 0.8% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,730 shares of the basic materials company's stock worth $1,690,000 after buying an additional 412 shares during the last quarter. Covestor Ltd grew its holdings in shares of United States Steel by 17.2% during the fourth quarter. Covestor Ltd now owns 2,891 shares of the basic materials company's stock worth $98,000 after purchasing an additional 424 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in United States Steel by 50.0% in the fourth quarter. GAMMA Investing LLC now owns 1,326 shares of the basic materials company's stock valued at $45,000 after buying an additional 442 shares during the last quarter. Hedge funds and other institutional investors own 81.92% of the company's stock.

Wall Street Analysts Forecast Growth

X has been the subject of a number of analyst reports. Bank of America assumed coverage on shares of United States Steel in a research report on Monday, January 6th. They set a "neutral" rating and a $35.00 price objective for the company. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $38.00 price target (down from $43.00) on shares of United States Steel in a research report on Wednesday, April 16th. BMO Capital Markets reissued a "market perform" rating and issued a $45.00 price objective on shares of United States Steel in a research report on Monday, March 31st. Jefferies Financial Group decreased their price target on shares of United States Steel from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, Morgan Stanley increased their price objective on shares of United States Steel from $39.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Friday, March 7th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, United States Steel currently has an average rating of "Hold" and an average price target of $39.94.

United States Steel Stock Up 1.2 %

Shares of NYSE X traded up $0.51 during mid-day trading on Friday, reaching $43.97. The company had a trading volume of 2,135,796 shares, compared to its average volume of 5,483,896. The stock has a fifty day moving average of $40.88 and a two-hundred day moving average of $38.25. The company has a market capitalization of $9.95 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 1.53 and a beta of 1.79. United States Steel Co. has a 12-month low of $26.92 and a 12-month high of $46.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55.

United States Steel (NYSE:X - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.04). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same period in the prior year, the business posted $0.82 earnings per share. The company's revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Monday, May 12th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.45%. United States Steel's dividend payout ratio is currently 13.42%.

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.