United States Steel Co. (NYSE:X) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its position in United States Steel Co. (NYSE:X) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 about 0.18% of United States Steel worth $19,041,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Wolff Wiese Magana LLC grew its holdings in shares of United States Steel by 181.4% during the third quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company’s stock worth $32,000 after buying an additional 635 shares during the last quarter. Rakuten Securities Inc. purchased a new position in shares of United States Steel in the 4th quarter valued at approximately $53,000. Fifth Third Bancorp increased its holdings in shares of United States Steel by 60.8% in the third quarter. Fifth Third Bancorp now owns 1,270 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 480 shares during the period. Rise Advisors LLC acquired a new position in shares of United States Steel in the fourth quarter valued at approximately $97,000. Finally, Trust Co. of Vermont purchased a new stake in shares of United States Steel during the third quarter worth approximately $65,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

X has been the topic of a number of 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 target for the company. StockNews.com started coverage on United States Steel in a research note on Monday. They set a “hold” rating 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 research note on Tuesday, April 9th. Morgan Stanley cut 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. Finally, BMO Capital Markets reduced their target price on United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a report on Tuesday, March 19th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $37.89.

United States Steel Trading Down 1.2 %

Shares of X opened at $36.98 on Tuesday. United States Steel Co. has a 1-year low of $20.40 and a 1-year high of $50.20. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.76 and a quick ratio of 1.22. The firm has a 50 day simple moving average of $42.26 and a 200-day simple moving average of $41.47. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 10.54 and a beta of 2.01.

United States Steel (NYSE:X) last posted its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.46. The firm 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%. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.87 EPS. Equities analysts forecast that United States Steel Co. will post 2.99 EPS for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 12th were given a dividend of $0.05 per share. The ex-dividend date was Friday, February 9th. This represents a $0.20 annualized dividend and a yield of 0.54%. United States Steel’s dividend payout ratio (DPR) is presently 5.70%.

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.