Principal Financial Group Inc. Sells 1,721 Shares of United States Steel Co. (NYSE:X)

Principal Financial Group Inc. lessened its holdings in United States Steel Co. (NYSE:X) by 0.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 516,357 shares of the basic materials company’s stock after selling 1,721 shares during the period. Principal Financial Group Inc.’s holdings in United States Steel were worth $17,551,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Rakuten Securities Inc. grew its position in shares of United States Steel by 9.2% during the 3rd quarter. Rakuten Securities Inc. now owns 3,328 shares of the basic materials company’s stock worth $118,000 after buying an additional 279 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of United States Steel by 0.7% during the 3rd quarter. D.A. Davidson & CO. now owns 44,450 shares of the basic materials company’s stock worth $1,570,000 after buying an additional 301 shares in the last quarter. Arkadios Wealth Advisors grew its position in shares of United States Steel by 1.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 18,635 shares of the basic materials company’s stock worth $658,000 after buying an additional 306 shares in the last quarter. Captrust Financial Advisors grew its position in shares of United States Steel by 4.8% during the 3rd quarter. Captrust Financial Advisors now owns 7,012 shares of the basic materials company’s stock worth $248,000 after buying an additional 321 shares in the last quarter. Finally, Creative Planning grew its position in shares of United States Steel by 2.0% during the 3rd quarter. Creative Planning now owns 18,340 shares of the basic materials company’s stock worth $648,000 after buying an additional 360 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.

United States Steel Trading Up 1.1 %

United States Steel stock opened at $38.12 on Wednesday. The stock has a 50-day moving average of $35.38 and a two-hundred day moving average of $36.82. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55. 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 cap of $8.59 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86.

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

United States Steel Announces Dividend

The firm also recently declared 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. This represents a $0.20 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Monday, February 10th. United States Steel’s dividend payout ratio (DPR) is presently 13.42%.

Wall Street Analyst Weigh In

X has been the topic of a number of recent research reports. Morgan Stanley reissued an “equal weight” rating and set a $39.00 price target on shares of United States Steel in a research report on Monday, February 3rd. Jefferies Financial Group dropped their price target on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. dropped their price objective on United States Steel from $44.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. BMO Capital Markets dropped their price objective on United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Finally, Bank of America assumed coverage on United States Steel in a research report on Monday, January 6th. They set a “neutral” rating and a $35.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, United States Steel presently has an average rating of “Moderate Buy” and an average price target of $39.82.

United States Steel 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.