Bank of New York Mellon Corp Sells 260,542 Shares of United States Steel Co. (NYSE:X)

Bank of New York Mellon Corp cut its position in United States Steel Co. (NYSE:X) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,603,993 shares of the basic materials company’s stock after selling 260,542 shares during the quarter. Bank of New York Mellon Corp’s holdings in United States Steel were worth $54,520,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. IFP Advisors Inc raised its position in United States Steel by 81.8% in the fourth quarter. IFP Advisors Inc now owns 1,405 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 632 shares during the last quarter. Sigma Planning Corp raised its position in United States Steel by 68.1% in the fourth quarter. Sigma Planning Corp now owns 24,639 shares of the basic materials company’s stock valued at $837,000 after purchasing an additional 9,979 shares during the last quarter. Global Retirement Partners LLC raised its position in United States Steel by 126.2% in the fourth quarter. Global Retirement Partners LLC now owns 9,025 shares of the basic materials company’s stock valued at $307,000 after purchasing an additional 5,035 shares during the last quarter. CIBC Asset Management Inc raised its position in United States Steel by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 6,880 shares of the basic materials company’s stock valued at $234,000 after purchasing an additional 366 shares during the last quarter. Finally, Allworth Financial LP raised its position in United States Steel by 149.4% in the fourth quarter. Allworth Financial LP now owns 1,337 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 801 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

United States Steel Trading Down 2.6 %

NYSE X opened at $37.84 on Wednesday. The business has a 50 day simple moving average of $36.26 and a 200 day simple moving average of $36.69. United States Steel Co. has a one year low of $26.92 and a one year high of $48.13. The stock has a market capitalization of $8.52 billion, a P/E ratio of 25.40, a P/E/G ratio of 1.53 and a beta of 1.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91.

United States Steel (NYSE:X) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. Research analysts expect that United States Steel Co. will post 1.43 earnings per share for the current year.

United States Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th will be paid a $0.05 dividend. The ex-dividend date is Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. United States Steel’s dividend payout ratio (DPR) is presently 13.42%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on X. Jefferies Financial Group decreased their price target on United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley reissued an “equal weight” rating and issued a $39.00 price target on shares of United States Steel in a research note on Monday, February 3rd. BMO Capital Markets decreased their price target on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. JPMorgan Chase & Co. decreased their price target on United States Steel from $44.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Bank of America began coverage on United States Steel in a research note on Monday, January 6th. They issued a “neutral” rating and a $35.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.82.

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.