Assetmark Inc. Cuts Position in United States Steel Co. (NYSE:X)

Assetmark Inc. lowered its holdings in shares of United States Steel Co. (NYSE:X) by 13.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,756 shares of the basic materials company’s stock after selling 265 shares during the quarter. Assetmark Inc.’s holdings in United States Steel were worth $62,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of X. Massachusetts Financial Services Co. MA lifted its position in shares of United States Steel by 4,305.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company’s stock valued at $137,379,000 after acquiring an additional 3,551,870 shares in the last quarter. KGH Ltd grew its holdings in shares of United States Steel by 68.2% during the second quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock worth $160,839,000 after buying an additional 1,724,670 shares in the last quarter. Murchinson Ltd. lifted its stake in shares of United States Steel by 66.5% in the first quarter. Murchinson Ltd. now owns 2,100,000 shares of the basic materials company’s stock worth $85,638,000 after buying an additional 838,653 shares in the last quarter. Forest Avenue Capital Management LP purchased a new stake in United States Steel during the 2nd quarter valued at about $22,770,000. Finally, International Assets Investment Management LLC raised its holdings in United States Steel by 4,445.5% in the 3rd quarter. International Assets Investment Management LLC now owns 571,326 shares of the basic materials company’s stock valued at $20,185,000 after acquiring an additional 558,757 shares during the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on X shares. Glj Research upgraded United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price target for the company in a research report on Monday, September 9th. BMO Capital Markets cut their target price on United States Steel from $45.00 to $43.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $42.00 in a report on Monday, September 9th. StockNews.com assumed coverage on shares of United States Steel in a research note on Monday, August 19th. They set a “hold” rating on the stock. Finally, Morgan Stanley increased their price target on shares of United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.80.

United States Steel Stock Performance

Shares of X stock opened at $38.01 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.08 and a current ratio of 1.67. The firm has a market cap of $8.56 billion, a P/E ratio of 23.57 and a beta of 1.86. The firm’s 50 day moving average price is $37.31 and its 200-day moving average price is $37.80. United States Steel Co. has a one year low of $26.92 and a one year high of $50.20.

United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.77 billion. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The firm’s revenue was down 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 earnings per share. As a group, equities research analysts predict that United States Steel Co. will post 2.21 EPS for the current year.

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Friday, November 8th. United States Steel’s payout ratio is 13.16%.

About United States Steel

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.