United States Steel Co. (NYSE:X) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in United States Steel Co. (NYSE:XFree Report) by 14.8% during the 3rd quarter, Holdings Channel reports. The fund owned 163,100 shares of the basic materials company’s stock after selling 28,275 shares during the period. New York State Common Retirement Fund’s holdings in United States Steel were worth $5,297,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new position in United States Steel in the 4th quarter valued at about $61,925,000. First Trust Advisors LP lifted its stake in shares of United States Steel by 155.8% during the first quarter. First Trust Advisors LP now owns 3,309,824 shares of the basic materials company’s stock valued at $124,913,000 after buying an additional 2,015,980 shares during the period. KGH Ltd lifted its stake in shares of United States Steel by 38.6% during the second quarter. KGH Ltd now owns 4,173,769 shares of the basic materials company’s stock valued at $104,386,000 after buying an additional 1,163,000 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of United States Steel by 930.3% during the 1st quarter. Balyasny Asset Management L.P. now owns 1,252,910 shares of the basic materials company’s stock worth $32,701,000 after purchasing an additional 1,131,304 shares during the period. Finally, Barclays PLC lifted its stake in shares of United States Steel by 181.4% during the 2nd quarter. Barclays PLC now owns 1,710,355 shares of the basic materials company’s stock worth $42,777,000 after purchasing an additional 1,102,512 shares during the period. 74.60% of the stock is currently owned by hedge funds and other institutional investors.

United States Steel Stock Performance

Shares of X stock opened at $46.29 on Monday. The company’s fifty day simple moving average is $45.58 and its 200-day simple moving average is $36.46. 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 company has a market cap of $10.36 billion, a PE ratio of 13.19 and a beta of 2.04.

United States Steel (NYSE:XGet Free Report) last released its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.21 by $0.46. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.73 billion. United States Steel had a return on equity of 10.80% and a net margin of 4.96%. The firm’s revenue was down 4.5% compared to the same quarter last year. During the same period last year, the company posted $0.87 earnings per share. As a group, equities research analysts anticipate that United States Steel Co. will post 2.92 EPS for the current year.

United States Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 13th. Stockholders of record on Monday, February 12th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, February 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.43%. United States Steel’s dividend payout ratio is currently 5.70%.

Insider Activity

In other news, CEO David B. Burritt sold 252,458 shares of United States Steel stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $50.01, for a total transaction of $12,625,424.58. Following the sale, the chief executive officer now directly owns 581,609 shares of the company’s stock, valued at $29,086,266.09. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Daniel R. Brown sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $49.77, for a total value of $248,850.00. Following the completion of the sale, the senior vice president now directly owns 86,968 shares in the company, valued at approximately $4,328,397.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David B. Burritt sold 252,458 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $50.01, for a total value of $12,625,424.58. Following the completion of the sale, the chief executive officer now owns 581,609 shares of the company’s stock, valued at $29,086,266.09. The disclosure for this sale can be found here. Insiders have sold 262,458 shares of company stock worth $13,049,275 over the last 90 days. Company insiders own 0.98% of the company’s stock.

Wall Street Analyst Weigh In

X has been the topic of several recent analyst reports. StockNews.com initiated coverage on United States Steel in a research report on Friday. They set a “hold” rating on the stock. 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 on the stock. Barclays cut their price objective on shares of United States Steel from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 1st. Argus downgraded shares of United States Steel from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Finally, Royal Bank of Canada cut their price target on shares of United States Steel from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $31.56.

Check Out Our Latest Stock Analysis on X

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.

Further Reading

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Institutional Ownership by Quarter for United States Steel (NYSE:X)

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