Bank of New York Mellon Corp Sells 260,542 Shares of United States Steel Co. (NYSE:X)

Bank of New York Mellon Corp lowered its stake in shares of United States Steel Co. (NYSE:X) by 14.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,603,993 shares of the basic materials company’s stock after selling 260,542 shares during the period. Bank of New York Mellon Corp owned 0.71% of United States Steel worth $54,520,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in X. Creative Planning raised its stake 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 purchasing an additional 360 shares in the last quarter. State of Alaska Department of Revenue increased its holdings 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 during the last quarter. US Bancorp DE increased its holdings 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 during the last quarter. Stephens Inc. AR acquired a new position in shares of United States Steel during the 3rd quarter worth approximately $269,000. Finally, Van ECK Associates Corp increased its holdings in shares of United States Steel by 199.6% during the 3rd quarter. Van ECK Associates Corp now owns 377,351 shares of the basic materials company’s stock worth $13,332,000 after acquiring an additional 251,391 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

United States Steel Stock Performance

NYSE:X opened at $37.84 on Wednesday. The stock has a fifty day moving average price of $36.26 and a 200-day moving average price of $36.69. The company has a market cap of $8.52 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 1.53 and a beta of 1.86. 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 fifty-two week low of $26.92 and a fifty-two week high of $48.13.

United States Steel (NYSE:X) last released its earnings results 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%. As a group, equities analysts anticipate that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Monday, February 10th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.53%. United States Steel’s dividend payout ratio is currently 13.42%.

Analysts Set New Price Targets

A number of research firms recently weighed in on X. Jefferies Financial Group decreased their target price on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley reissued an “equal weight” rating and set a $39.00 target price on shares of United States Steel in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price on United States Steel from $44.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Bank of America assumed coverage on United States Steel in a report on Monday, January 6th. They set a “neutral” rating and a $35.00 target price on the stock. Finally, BMO Capital Markets decreased their price objective on United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.82.

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.