Vestcor Inc Trims Stake in United States Steel Co. (NYSE:X)

Vestcor Inc reduced its position in United States Steel Co. (NYSE:X) by 89.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,503 shares of the basic materials company’s stock after selling 44,497 shares during the quarter. Vestcor Inc’s holdings in United States Steel were worth $187,000 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. Empirical Asset Management LLC bought a new stake in shares of United States Steel during the fourth quarter valued at approximately $525,000. ARS Investment Partners LLC bought a new stake in shares of United States Steel during the fourth quarter valued at approximately $15,510,000. Rockefeller Capital Management L.P. raised its stake in shares of United States Steel by 646.0% during the third quarter. Rockefeller Capital Management L.P. now owns 506,694 shares of the basic materials company’s stock valued at $17,902,000 after acquiring an additional 438,771 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of United States Steel by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,839,684 shares of the basic materials company’s stock valued at $135,691,000 after acquiring an additional 37,528 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of United States Steel by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,600,708 shares of the basic materials company’s stock valued at $91,883,000 after acquiring an additional 28,293 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

X has been the subject of several research analyst reports. Bank of America started coverage on shares of United States Steel in a research note on Monday, January 6th. They set a “neutral” rating and a $35.00 price target for the company. Jefferies Financial Group cut their price objective on shares of 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 lifted their price objective on shares of United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday, March 7th. JPMorgan Chase & Co. lifted their price objective on shares of United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Finally, BMO Capital Markets cut their price objective on shares of 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.70.

United States Steel Price Performance

NYSE X opened at $41.71 on Wednesday. The firm’s fifty day simple moving average is $37.40 and its two-hundred day simple moving average is $36.68. The company has a current ratio of 1.55, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. United States Steel Co. has a 12-month low of $26.92 and a 12-month high of $43.35. The firm has a market capitalization of $9.39 billion, a P/E ratio of 28.00, a P/E/G ratio of 1.53 and a beta of 1.86.

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 return on equity of 4.27% and a net margin of 2.46%. Analysts forecast that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, February 10th. United States Steel’s dividend payout ratio (DPR) is presently 13.42%.

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.