New York State Common Retirement Fund Has $3.20 Million Holdings in United States Steel Co. (NYSE:X)

New York State Common Retirement Fund lessened its holdings in shares of United States Steel Co. (NYSE:X) by 6.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,184 shares of the basic materials company’s stock after selling 6,000 shares during the period. New York State Common Retirement Fund’s holdings in United States Steel were worth $3,201,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Creative Planning boosted 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 acquiring an additional 360 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of United States Steel by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 26,036 shares of the basic materials company’s stock worth $919,000 after acquiring an additional 1,760 shares in the last quarter. US Bancorp DE boosted its position in shares of United States Steel by 40.1% during the 3rd quarter. US Bancorp DE now owns 9,018 shares of the basic materials company’s stock worth $319,000 after acquiring an additional 2,581 shares in the last quarter. Stephens Inc. AR acquired a new stake in shares of United States Steel during the 3rd quarter worth approximately $269,000. Finally, Palliser Capital UK Ltd boosted its position in shares of United States Steel by 112.1% during the 3rd quarter. Palliser Capital UK Ltd now owns 332,100 shares of the basic materials company’s stock worth $11,733,000 after acquiring an additional 175,500 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Wall Street Analysts Forecast Growth

X has been the topic of several analyst reports. BMO Capital Markets reduced their price target on shares of 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. Bank of America initiated coverage on shares of United States Steel in a research report on Monday, January 6th. They set a “neutral” rating and a $35.00 price target on the stock. Jefferies Financial Group reduced their price target on shares of 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 shares of United States Steel from $44.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $39.00 price objective on shares of United States Steel in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $39.82.

United States Steel Price Performance

X stock opened at $40.17 on Friday. The company has a fifty day moving average price of $35.99 and a 200-day moving average price of $36.81. The company has a market capitalization of $9.05 billion, a P/E ratio of 26.96, a PEG ratio of 1.53 and a beta of 1.86. United States Steel Co. has a 52-week low of $26.92 and a 52-week high of $48.13. 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 (NYSE:X) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. As a group, equities analysts expect that United States Steel Co. will post 1.43 EPS for the current year.

United States Steel Announces Dividend

The firm 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 dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, February 10th. United States Steel’s 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.