Truist Financial Corp Reduces Stock Position in United States Steel Co. (NYSE:X)

Truist Financial Corp lessened its holdings in United States Steel Co. (NYSE:X) by 17.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,949 shares of the basic materials company’s stock after selling 2,132 shares during the quarter. Truist Financial Corp’s holdings in United States Steel were worth $338,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Creative Planning grew its holdings in shares of United States Steel by 2.0% during the third quarter. Creative Planning now owns 18,340 shares of the basic materials company’s stock worth $648,000 after purchasing an additional 360 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of United States Steel by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 26,036 shares of the basic materials company’s stock worth $919,000 after buying an additional 1,760 shares during the last quarter. US Bancorp DE grew its holdings in shares of United States Steel by 40.1% during the third quarter. US Bancorp DE now owns 9,018 shares of the basic materials company’s stock worth $319,000 after buying an additional 2,581 shares during the last quarter. Stephens Inc. AR purchased a new position in shares of United States Steel during the third quarter worth about $269,000. Finally, Van ECK Associates Corp grew its holdings in shares of United States Steel by 199.6% during the third quarter. Van ECK Associates Corp now owns 377,351 shares of the basic materials company’s stock worth $13,332,000 after buying an additional 251,391 shares during the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on X shares. BMO Capital Markets reduced their price objective on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Bank of America began coverage on shares of United States Steel in a research report on Monday, January 6th. They issued a “neutral” rating and a $35.00 price objective for the company. Jefferies Financial Group reduced their price target on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on shares of United States Steel from $44.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Morgan Stanley reiterated 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.82.

United States Steel Stock Performance

Shares of United States Steel stock opened at $37.84 on Wednesday. The firm has a market cap of $8.52 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86. The firm’s 50-day simple moving average is $36.26 and its 200-day simple moving average is $36.69. 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 1 year low of $26.92 and a 1 year high of $48.13.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share 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%. Equities analysts forecast that United States Steel Co. will post 1.43 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders 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 dividend yield of 0.53%. The ex-dividend date is Monday, February 10th. United States Steel’s dividend payout ratio is currently 13.42%.

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.