Alpine Global Management LLC Lowers Position in United States Steel Co. (NYSE:X)

Alpine Global Management LLC lowered its position in shares of United States Steel Co. (NYSE:X - Free Report) by 40.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,963 shares of the basic materials company's stock after selling 50,552 shares during the period. Alpine Global Management LLC's holdings in United States Steel were worth $2,582,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new position in shares of United States Steel in the fourth quarter valued at approximately $130,731,000. Forest Avenue Capital Management LP purchased a new stake in shares of United States Steel during the 4th quarter valued at about $50,795,000. NWI Management LP acquired a new position in shares of United States Steel during the fourth quarter worth $48,946,000. Duquesne Family Office LLC boosted its position in United States Steel by 142.8% in the 4th quarter. Duquesne Family Office LLC now owns 1,610,040 shares of the basic materials company's stock valued at $54,725,000 after buying an additional 946,950 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in United States Steel by 11.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,291,906 shares of the basic materials company's stock valued at $315,790,000 after purchasing an additional 929,762 shares during the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on X. Jefferies Financial Group restated a "hold" rating and issued a $55.00 target price (up from $50.00) on shares of United States Steel in a research note on Tuesday. BMO Capital Markets restated a "market perform" rating and issued a $45.00 price target on shares of United States Steel in a research report on Monday, March 31st. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $38.00 target price (down from $43.00) on shares of United States Steel in a research report on Wednesday, April 16th. Morgan Stanley upped their price target on shares of United States Steel from $35.00 to $38.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Finally, Wolfe Research restated a "peer perform" rating on shares of United States Steel in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $41.37.

United States Steel Stock Performance

Shares of United States Steel stock traded up $0.20 during trading on Wednesday, reaching $53.24. The company's stock had a trading volume of 5,660,078 shares, compared to its average volume of 6,003,423. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $54.00. The business's 50-day moving average price is $42.72 and its 200-day moving average price is $38.81. The firm has a market cap of $12.06 billion, a PE ratio of 35.73, a P/E/G ratio of 1.53 and a beta of 1.82. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X - Get Free Report) last posted its earnings results on Thursday, May 1st. The basic materials company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.54 billion. United States Steel had a net margin of 2.46% and a return on equity of 4.27%. United States Steel's revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 earnings per share. Equities analysts forecast that United States Steel Co. will post 1.43 earnings per share for the current year.

United States Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Monday, May 12th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Monday, May 12th. United States Steel's payout ratio is currently 68.97%.

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.