AlphaQuest LLC Cuts Stock Holdings in United States Steel Co. (NYSE:X)

AlphaQuest LLC lowered its holdings in shares of United States Steel Co. (NYSE:X - Free Report) by 75.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,778 shares of the basic materials company's stock after selling 20,470 shares during the period. AlphaQuest LLC's holdings in United States Steel were worth $230,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Castle Hook Partners LP bought a new position in United States Steel in the 3rd quarter worth about $91,712,000. Holocene Advisors LP bought a new position in shares of United States Steel in the third quarter worth approximately $51,620,000. Massachusetts Financial Services Co. MA grew its holdings in shares of United States Steel by 26.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,598,831 shares of the basic materials company's stock valued at $162,477,000 after buying an additional 964,467 shares during the last quarter. E. Ohman J or Asset Management AB purchased a new stake in shares of United States Steel during the fourth quarter valued at approximately $17,907,000. Finally, ARS Investment Partners LLC bought a new stake in shares of United States Steel during the fourth quarter valued at approximately $15,510,000. Hedge funds and other institutional investors own 81.92% of the company's stock.

United States Steel Stock Performance

Shares of NYSE:X traded down $0.15 during mid-day trading on Wednesday, reaching $41.55. 3,701,915 shares of the company traded hands, compared to its average volume of 6,907,678. The firm has a market cap of $9.36 billion, a PE ratio of 27.89, 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 $43.35. The company's 50 day moving average price is $37.40 and its 200-day moving average price is $36.68. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91.

Remove Ads

United States Steel (NYSE:X - Get Free Report) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share 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%. On average, equities analysts expect that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a 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%.

Analysts Set New Price Targets

Several analysts have commented on the company. Bank of America began coverage on United States Steel in a research note on Monday, January 6th. They set a "neutral" rating and a $35.00 target price on the stock. Jefferies Financial Group reduced their price objective on United States Steel from $45.00 to $40.00 and set a "buy" rating for the company in a report on Monday, January 6th. BMO Capital Markets lowered their target price on shares of United States Steel from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Friday, December 20th. JPMorgan Chase & Co. lifted their price target on shares of United States Steel from $40.00 to $43.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 11th. Finally, Morgan Stanley increased 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 research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, United States Steel has a consensus rating of "Moderate Buy" and a consensus target price of $40.70.

United States Steel 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.