California Public Employees Retirement System trimmed its position in United States Steel Co. (NYSE:X - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 391,381 shares of the basic materials company's stock after selling 35,105 shares during the quarter. California Public Employees Retirement System owned 0.18% of United States Steel worth $19,041,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. CWM LLC raised its position in shares of United States Steel by 51.1% in the third quarter. CWM LLC now owns 2,828 shares of the basic materials company's stock valued at $92,000 after buying an additional 957 shares in the last quarter. DAVENPORT & Co LLC bought a new position in United States Steel during the 3rd quarter worth $487,000. Handelsbanken Fonder AB raised its holdings in United States Steel by 48.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 37,000 shares of the basic materials company's stock valued at $1,202,000 after acquiring an additional 12,100 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in shares of United States Steel during the 3rd quarter valued at $214,000. Finally, Stratos Wealth Partners LTD. grew its holdings in shares of United States Steel by 12.9% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 20,799 shares of the basic materials company's stock worth $676,000 after purchasing an additional 2,372 shares in the last quarter. Institutional investors own 81.92% of the company's stock.
United States Steel Price Performance
NYSE:X traded down $0.45 on Tuesday, hitting $36.51. The company had a trading volume of 3,623,501 shares, compared to its average volume of 4,626,985. United States Steel Co. has a 52 week low of $20.40 and a 52 week high of $50.20. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of 10.40 and a beta of 2.01. The firm has a 50 day moving average of $42.07 and a two-hundred day moving average of $41.49.
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 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.46. The company had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $3.73 billion. United States Steel had a return on equity of 10.80% and a net margin of 4.96%. United States Steel's revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 EPS. On average, research analysts anticipate that United States Steel Co. will post 2.99 earnings per share for the current year.
United States Steel Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 12th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Friday, February 9th. United States Steel's dividend payout ratio is currently 5.70%.
Analyst Ratings Changes
A number of research analysts recently commented on X shares. JPMorgan Chase & Co. began 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. StockNews.com started coverage on shares of United States Steel in a research report on Monday. They issued a "hold" rating for the company. BMO Capital Markets reduced their price target 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 objective for the company from $40.00 to $51.00 in a research note on Thursday, February 15th. Finally, Wolfe Research upgraded United States Steel from a "peer perform" rating to an "outperform" rating and set a $46.00 target price for the company in a research note on Tuesday, April 9th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $37.89.
Check Out Our Latest Report on United States Steel
About United States Steel
(
Free Report)
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.
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