California State Teachers Retirement System Lowers Stock Holdings in United States Steel Co. (NYSE:X)

California State Teachers Retirement System reduced its position in shares of United States Steel Co. (NYSE:X - Free Report) by 3.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 210,353 shares of the basic materials company's stock after selling 6,729 shares during the quarter. California State Teachers Retirement System owned about 0.09% of United States Steel worth $7,150,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stifel Financial Corp boosted its stake in United States Steel by 98.4% during the fourth quarter. Stifel Financial Corp now owns 44,682 shares of the basic materials company's stock worth $1,519,000 after buying an additional 22,161 shares during the period. Heck Capital Advisors LLC bought a new position in United States Steel in the 4th quarter valued at $554,000. Raymond James Financial Inc. purchased a new stake in United States Steel in the fourth quarter worth $2,844,000. Hartree Partners LP increased its stake in United States Steel by 140.9% in the fourth quarter. Hartree Partners LP now owns 257,606 shares of the basic materials company's stock worth $8,756,000 after purchasing an additional 150,669 shares during the period. Finally, IFP Advisors Inc lifted its position in shares of United States Steel by 81.8% during the fourth quarter. IFP Advisors Inc now owns 1,405 shares of the basic materials company's stock worth $48,000 after purchasing an additional 632 shares during the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

United States Steel Price Performance

NYSE:X traded down $0.12 during trading hours on Wednesday, hitting $53.64. 1,424,075 shares of the stock were exchanged, compared to its average volume of 6,168,749. The company has a current ratio of 1.55, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. United States Steel Co. has a 52-week low of $26.92 and a 52-week high of $54.03. The company has a market cap of $12.15 billion, a P/E ratio of 36.00, a P/E/G ratio of 1.53 and a beta of 1.82. The firm's fifty day moving average price is $43.85 and its 200 day moving average price is $39.35.

United States Steel (NYSE:X - Get Free Report) last announced its 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). The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.54 billion. United States Steel had a return on equity of 4.27% and a net margin of 2.46%. The company's revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the firm earned $0.82 EPS. As a group, equities research analysts anticipate that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Monday, May 12th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Monday, May 12th. United States Steel's payout ratio is currently 68.97%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on X shares. JPMorgan Chase & Co. raised their price target on shares of United States Steel from $39.00 to $55.00 and gave the stock a "neutral" rating in a research note on Monday. BMO Capital Markets reiterated a "market perform" rating and issued a $45.00 price target on shares of United States Steel in a report on Monday, March 31st. Morgan Stanley raised their target price on shares of United States Steel from $35.00 to $38.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Jefferies Financial Group restated a "hold" rating and set a $55.00 price objective (up from $50.00) on shares of United States Steel in a research note on Tuesday, May 27th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of United States Steel in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $43.80.

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.