Alpine Global Management LLC Has $2.58 Million Holdings in United States Steel Co. (NYSE:X)

Alpine Global Management LLC decreased its position in United States Steel Co. (NYSE:X - Free Report) by 40.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,963 shares of the basic materials company's stock after selling 50,552 shares during the quarter. Alpine Global Management LLC's holdings in United States Steel were worth $2,582,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in United States Steel in the fourth quarter valued at $130,731,000. Forest Avenue Capital Management LP acquired a new position in United States Steel during the fourth quarter worth $50,795,000. NWI Management LP purchased a new stake in United States Steel during the fourth quarter worth $48,946,000. Duquesne Family Office LLC grew its position in shares of United States Steel by 142.8% in the fourth quarter. Duquesne Family Office LLC now owns 1,610,040 shares of the basic materials company's stock valued at $54,725,000 after purchasing an additional 946,950 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of 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. Hedge funds and other institutional investors own 81.92% of the company's stock.

United States Steel Stock Performance

Shares of United States Steel stock traded up $0.91 on Tuesday, reaching $52.92. The stock had a trading volume of 42,657,001 shares, compared to its average volume of 6,003,637. The stock has a market cap of $11.98 billion, a P/E ratio of 35.52, a price-to-earnings-growth ratio of 1.53 and a beta of 1.82. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week high of $54.00. The business's 50-day moving average price is $42.48 and its two-hundred day moving average price is $38.71. 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 announced 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 the consensus estimate of $3.54 billion. During the same period last year, the firm earned $0.82 EPS. The company's quarterly revenue was down 10.4% compared to the same quarter last year. On average, sell-side analysts forecast that United States Steel Co. will post 1.43 EPS for the current year.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Monday, May 12th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.38%. United States Steel's payout ratio is presently 68.97%.

Analyst Ratings Changes

A number of brokerages recently issued reports on X. JPMorgan Chase & Co. restated a "neutral" rating and set a $38.00 target price (down previously from $43.00) on shares of United States Steel in a research report on Wednesday, April 16th. Jefferies Financial Group reaffirmed a "hold" rating and set a $55.00 price target (up previously from $50.00) on shares of United States Steel in a research note on Tuesday. BMO Capital Markets reissued a "market perform" rating and set a $45.00 price objective on shares of United States Steel in a report on Monday, March 31st. Wolfe Research reissued a "peer perform" rating on shares of United States Steel in a report on Tuesday. Finally, Morgan Stanley lifted 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. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $41.37.

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.