Amalgamated Bank Sells 12,178 Shares of United States Steel Co. (NYSE:X)

Amalgamated Bank trimmed its position in shares of United States Steel Co. (NYSE:X) by 8.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,204 shares of the basic materials company’s stock after selling 12,178 shares during the period. Amalgamated Bank owned about 0.06% of United States Steel worth $5,300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gabelli Funds LLC lifted its position in shares of United States Steel by 436.4% during the fourth quarter. Gabelli Funds LLC now owns 214,300 shares of the basic materials company’s stock worth $10,426,000 after purchasing an additional 174,350 shares during the last quarter. Third Point LLC boosted its position in United States Steel by 15.8% in the 4th quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock valued at $267,575,000 after buying an additional 750,000 shares during the period. Weiss Asset Management LP bought a new position in United States Steel in the 4th quarter worth about $6,408,000. Janus Henderson Group PLC grew its stake in United States Steel by 94.3% in the 1st quarter. Janus Henderson Group PLC now owns 211,043 shares of the basic materials company’s stock worth $8,601,000 after acquiring an additional 102,450 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in shares of United States Steel during the fourth quarter valued at approximately $219,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

United States Steel Trading Up 2.3 %

NYSE:X opened at $38.96 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $38.09 and a 200-day simple moving average of $38.70. United States Steel Co. has a 12 month low of $26.92 and a 12 month high of $50.20. The company has a market capitalization of $8.76 billion, a P/E ratio of 11.43 and a beta of 1.88.

United States Steel (NYSE:X) last issued its earnings results on Thursday, August 1st. The basic materials company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.12. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the firm earned $1.92 earnings per share. United States Steel’s revenue for the quarter was down 17.8% on a year-over-year basis. On average, equities research analysts anticipate that United States Steel Co. will post 2.15 earnings per share for the current year.

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 12th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.51%. The ex-dividend date was Monday, August 12th. United States Steel’s dividend payout ratio is currently 5.87%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Friday, September 6th. Jefferies Financial Group lowered their price objective on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Glj Research raised shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price on the stock in a research report on Monday, September 9th. BMO Capital Markets raised shares of United States Steel from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $43.00 to $45.00 in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $42.00 in a report on Monday, September 9th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, United States Steel currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.76.

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.