Federated Hermes Inc. Lowers Stake in United States Steel Co. (NYSE:X)

Federated Hermes Inc. lowered its stake in United States Steel Co. (NYSE:X - Free Report) by 79.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 25,474 shares of the basic materials company's stock after selling 100,775 shares during the period. Federated Hermes Inc.'s holdings in United States Steel were worth $1,239,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wolff Wiese Magana LLC grew its position in shares of United States Steel by 181.4% during the 3rd quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company's stock worth $32,000 after purchasing an additional 635 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of United States Steel by 60.8% during the 3rd quarter. Fifth Third Bancorp now owns 1,270 shares of the basic materials company's stock worth $41,000 after acquiring an additional 480 shares during the period. Rakuten Securities Inc. bought a new stake in shares of United States Steel during the 4th quarter worth approximately $53,000. Trust Co. of Vermont bought a new stake in shares of United States Steel during the 3rd quarter worth approximately $65,000. Finally, CWM LLC lifted its holdings in shares of United States Steel by 51.1% during the 3rd quarter. CWM LLC now owns 2,828 shares of the basic materials company's stock worth $92,000 after acquiring an additional 957 shares during the period. Institutional investors and hedge funds own 81.92% of the company's stock.

Analysts Set New Price Targets

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

United States Steel Stock Up 1.3 %

United States Steel stock traded up $0.48 during midday trading on Wednesday, hitting $36.98. 2,872,423 shares of the stock were exchanged, compared to its average volume of 4,607,703. United States Steel Co. has a 52-week low of $20.40 and a 52-week high of $50.20. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 10.54 and a beta of 2.00. The business's 50-day moving average price is $41.89 and its 200-day moving average price is $41.46. 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 released its earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.46. The firm 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 company's quarterly revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.87 earnings per share. On average, research analysts expect that United States Steel Co. will post 2.99 EPS for the current fiscal year.

United States Steel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 12th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Friday, February 9th. United States Steel's payout ratio is 5.70%.

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.