Louisiana State Employees Retirement System Buys New Position in United States Steel Co. (NYSE:X)

Louisiana State Employees Retirement System purchased a new position in shares of United States Steel Co. (NYSE:X - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 62,600 shares of the basic materials company's stock, valued at approximately $3,045,000.

Other hedge funds have also recently modified their holdings of the company. Simplicity Solutions LLC purchased a new position in United States Steel in the 4th quarter worth $224,000. Sequoia Financial Advisors LLC purchased a new position in shares of United States Steel in the fourth quarter worth about $226,000. Bleakley Financial Group LLC acquired a new stake in shares of United States Steel during the fourth quarter worth about $224,000. Mirae Asset Global Investments Co. Ltd. boosted its position in United States Steel by 1.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,258,118 shares of the basic materials company's stock valued at $61,207,000 after buying an additional 14,440 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in United States Steel by 4,057.9% in the 4th quarter. International Assets Investment Management LLC now owns 747,553 shares of the basic materials company's stock worth $36,368,000 after buying an additional 729,574 shares during the period. Institutional investors and hedge funds own 81.92% of the company's stock.

United States Steel Trading Down 1.3 %

NYSE X traded down $0.53 on Tuesday, reaching $40.29. The stock had a trading volume of 2,183,734 shares, compared to its average volume of 4,750,345. United States Steel Co. has a 12-month low of $20.40 and a 12-month high of $50.20. The stock has a fifty day moving average price of $43.80 and a two-hundred day moving average price of $41.11. The firm has a market capitalization of $9.06 billion, a price-to-earnings ratio of 11.64 and a beta of 2.01. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.37.

United States Steel (NYSE:X - Get Free Report) last issued its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.46. The business had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.73 billion. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. The business's quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 earnings per share. As a group, sell-side analysts forecast that United States Steel Co. will post 3.17 EPS for the current fiscal year.

United States Steel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 12th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.50%. United States Steel's payout ratio is 5.70%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on X shares. BMO Capital Markets lowered their price objective on United States Steel from $55.00 to $45.00 and set a "market perform" rating on the stock in a research report on Tuesday, March 19th. Morgan Stanley cut shares of United States Steel from an "overweight" rating to an "equal weight" rating and lifted their price objective for the company from $40.00 to $51.00 in a report on Thursday, February 15th. Wolfe Research raised shares of United States Steel from a "peer perform" rating to an "outperform" rating and set a $46.00 target price on the stock in a research note on Tuesday, April 9th. JPMorgan Chase & Co. started coverage on United States Steel in a research note on Friday, January 12th. They issued a "neutral" rating and a $52.00 price target for the company. Finally, StockNews.com started coverage on United States Steel in a research report on Saturday. They set a "hold" rating on the stock. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, United States Steel has a consensus rating of "Hold" and an average price target of $37.89.

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.