New York State Teachers Retirement System Sells 7,301 Shares of United States Steel Corporation (NYSE:X)

New York State Teachers Retirement System lowered its position in United States Steel Corporation (NYSE:X) by 3.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 230,158 shares of the basic materials company’s stock after selling 7,301 shares during the period. New York State Teachers Retirement System’s holdings in United States Steel were worth $9,726,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new position in United States Steel during the 4th quarter worth about $130,731,000. Forest Avenue Capital Management LP bought a new position in United States Steel during the 4th quarter worth about $50,795,000. NWI Management LP bought a new position in United States Steel during the 4th quarter worth about $48,946,000. Duquesne Family Office LLC increased its holdings in United States Steel by 142.8% during the 4th quarter. Duquesne Family Office LLC now owns 1,610,040 shares of the basic materials company’s stock worth $54,725,000 after purchasing an additional 946,950 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in United States Steel by 11.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,291,906 shares of the basic materials company’s stock worth $315,790,000 after purchasing an additional 929,762 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.

Analyst Upgrades and Downgrades

X has been the subject of a number of research reports. BMO Capital Markets reiterated a “market perform” rating and set a $45.00 target price on shares of United States Steel in a report on Monday, March 31st. Jefferies Financial Group restated a “hold” rating and issued a $55.00 price objective (up previously from $50.00) on shares of United States Steel in a report on Tuesday, May 27th. Morgan Stanley raised their price objective on United States Steel from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Wolfe Research restated a “peer perform” rating on shares of United States Steel in a report on Tuesday, May 27th. Finally, Glj Research cut United States Steel from a “strong-buy” rating to a “strong sell” rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $43.80.

United States Steel Trading Up 0.2%

Shares of NYSE:X opened at $54.97 on Friday. United States Steel Corporation has a 52-week low of $26.92 and a 52-week high of $54.91. The company has a market capitalization of $12.45 billion, a P/E ratio of 189.56, a price-to-earnings-growth ratio of 2.21 and a beta of 1.87. The company has a 50-day simple moving average of $49.58 and a 200 day simple moving average of $41.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.75 and a current ratio of 1.45.

United States Steel (NYSE:X) last issued its earnings results on Thursday, May 1st. The basic materials company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.04). United States Steel had a net margin of 0.64% and a return on equity of 1.69%. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the business posted $0.82 earnings per share. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. Sell-side analysts forecast that United States Steel Corporation will post 1.43 earnings per share for the current year.

United States Steel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 12th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.20 annualized dividend and a yield of 0.36%. United States Steel’s dividend payout ratio (DPR) is currently 68.97%.

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.