United States Steel Co. (NYSE:X) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC lowered its position in shares of United States Steel Co. (NYSE:X) by 44.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,467 shares of the basic materials company’s stock after selling 6,899 shares during the quarter. International Assets Investment Management LLC’s holdings in United States Steel were worth $354,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. SummerHaven Investment Management LLC raised its holdings in shares of United States Steel by 0.9% during the fourth quarter. SummerHaven Investment Management LLC now owns 29,928 shares of the basic materials company’s stock valued at $1,456,000 after acquiring an additional 278 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of United States Steel by 28.7% in the fourth quarter. Parallel Advisors LLC now owns 1,363 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 304 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of United States Steel by 18.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,004 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 313 shares during the last quarter. Yousif Capital Management LLC increased its holdings in shares of United States Steel by 0.3% in the fourth quarter. Yousif Capital Management LLC now owns 112,000 shares of the basic materials company’s stock valued at $5,449,000 after purchasing an additional 372 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of United States Steel by 4.2% in the third quarter. PNC Financial Services Group Inc. now owns 10,969 shares of the basic materials company’s stock valued at $356,000 after purchasing an additional 444 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on X. StockNews.com began coverage on United States Steel in a report on Monday. They issued a “hold” rating for the company. Jefferies Financial Group started coverage on United States Steel in a research report on Monday, May 20th. They issued a “buy” rating and a $45.00 price objective for the company. Wolfe Research upgraded United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective for the company in a research report on Tuesday, April 9th. JPMorgan Chase & Co. lowered their price objective on United States Steel from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Finally, Morgan Stanley upgraded United States Steel from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $51.00 to $48.00 in a research report on Monday, May 6th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, United States Steel currently has a consensus rating of “Hold” and a consensus target price of $38.78.

United States Steel Trading Down 2.9 %

X opened at $35.21 on Wednesday. United States Steel Co. has a 52 week low of $22.26 and a 52 week high of $50.20. The business has a fifty day simple moving average of $37.36 and a 200-day simple moving average of $42.34. The firm has a market cap of $7.92 billion, a P/E ratio of 10.33 and a beta of 1.99. The company has a quick ratio of 1.14, a current ratio of 1.71 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.77 by $0.01. The business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.22 billion. United States Steel had a return on equity of 10.61% and a net margin of 4.89%. On average, equities analysts expect that United States Steel Co. will post 2.69 earnings per share for the current year.

United States Steel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Monday, May 13th were issued a $0.05 dividend. The ex-dividend date was Friday, May 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.57%. United States Steel’s dividend payout ratio (DPR) is presently 5.87%.

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.