Allspring Global Investments Holdings LLC Sells 20,510 Shares of United States Steel Co. (NYSE:X)

Allspring Global Investments Holdings LLC decreased its holdings in shares of United States Steel Co. (NYSE:X - Free Report) by 83.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,123 shares of the basic materials company's stock after selling 20,510 shares during the period. Allspring Global Investments Holdings LLC's holdings in United States Steel were worth $201,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Third Point LLC acquired a new stake in United States Steel in the 3rd quarter valued at $154,280,000. KGH Ltd grew its holdings in shares of United States Steel by 7.5% in the 3rd quarter. KGH Ltd now owns 4,488,769 shares of the basic materials company's stock worth $145,795,000 after purchasing an additional 315,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of United States Steel by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,404,657 shares of the basic materials company's stock worth $78,103,000 after purchasing an additional 67,824 shares in the last quarter. Laurion Capital Management LP bought a new position in United States Steel during the 3rd quarter valued at about $50,912,000. Finally, 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 in the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

United States Steel Trading Up 0.7 %

United States Steel stock traded up $0.25 during midday trading on Friday, hitting $37.42. 3,229,113 shares of the stock were exchanged, compared to its average volume of 3,301,375. The stock has a market capitalization of $8.41 billion, a PE ratio of 10.66 and a beta of 2.00. The company has a fifty day simple moving average of $42.44 and a two-hundred day simple moving average of $41.45. 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 Co. has a 52 week low of $20.40 and a 52 week high of $50.20.

United States Steel (NYSE:X - Get Free Report) last announced its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.46. The company had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.73 billion. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. The firm's revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 EPS. Equities research analysts anticipate that United States Steel Co. will post 2.99 EPS for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 12th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Friday, February 9th. United States Steel's dividend payout ratio is currently 5.70%.

Wall Street Analyst Weigh In

X has been the subject of several recent analyst reports. JPMorgan Chase & Co. began coverage on shares of United States Steel in a report on Friday, January 12th. They set a "neutral" rating and a $52.00 price objective for the company. Wolfe Research upgraded United States Steel from a "peer perform" rating to an "outperform" rating and set a $46.00 price target on the stock in a report on Tuesday, April 9th. BMO Capital Markets cut their target price on shares of 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 target for the stock from $40.00 to $51.00 in a research report on Thursday, February 15th. Finally, StockNews.com began coverage on shares of United States Steel in a research note on Sunday, April 21st. They set a "hold" rating for the company. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently 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.