Alpine Associates Management Inc. Sells 140,398 Shares of United States Steel Co. (NYSE:X)

Alpine Associates Management Inc. decreased its position in shares of United States Steel Co. (NYSE:X - Free Report) by 5.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 2,527,534 shares of the basic materials company's stock after selling 140,398 shares during the period. United States Steel comprises about 4.1% of Alpine Associates Management Inc.'s holdings, making the stock its 8th largest holding. Alpine Associates Management Inc. owned about 1.12% of United States Steel worth $89,298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quest Partners LLC raised its holdings in United States Steel by 103.4% in the third quarter. Quest Partners LLC now owns 27,248 shares of the basic materials company's stock worth $963,000 after buying an additional 13,849 shares during the last quarter. Gladius Capital Management LP purchased a new position in shares of United States Steel during the 3rd quarter valued at about $39,000. Natixis Advisors LLC boosted its position in shares of United States Steel by 4.9% in the third quarter. Natixis Advisors LLC now owns 31,284 shares of the basic materials company's stock worth $1,105,000 after purchasing an additional 1,455 shares during the period. Towerview LLC increased its stake in United States Steel by 18.2% in the 3rd quarter. Towerview LLC now owns 65,000 shares of the basic materials company's stock worth $2,296,000 after buying an additional 10,000 shares in the last quarter. Finally, KBC Group NV raised its stake in United States Steel by 12.0% during the 3rd quarter. KBC Group NV now owns 5,580 shares of the basic materials company's stock valued at $197,000 after purchasing an additional 596 shares during the period. 81.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on X shares. Morgan Stanley raised their target price on shares of United States Steel from $48.00 to $49.00 and gave the stock an "overweight" rating in a research report on Thursday, August 15th. BNP Paribas raised shares of United States Steel from a "neutral" rating to an "outperform" rating and set a $40.00 price target for the company in a research report on Friday, September 6th. Glj Research upgraded United States Steel from a "sell" rating to a "buy" rating and set a $38.57 target price on the stock in a research note on Monday, September 9th. StockNews.com initiated coverage on shares of United States Steel in a research report on Monday, August 19th. They set a "hold" rating on the stock. Finally, JPMorgan Chase & Co. raised United States Steel from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $40.00 to $42.00 in a research note on Monday, September 9th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $42.80.

United States Steel Trading Up 4.2 %

NYSE:X traded up $1.63 during trading hours on Wednesday, reaching $40.52. 6,028,733 shares of the stock were exchanged, compared to its average volume of 4,447,576. United States Steel Co. has a twelve month low of $26.92 and a twelve month high of $50.20. The business has a 50-day moving average of $37.56 and a two-hundred day moving average of $37.82. The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of 27.26 and a beta of 1.86. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35.

United States Steel (NYSE:X - Get Free Report) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.15. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the business posted $1.36 earnings per share. United States Steel's revenue was down 13.0% compared to the same quarter last year. On average, equities analysts predict that United States Steel Co. will post 2.21 EPS for the current year.

United States Steel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 11th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Friday, November 8th. United States Steel's dividend payout ratio (DPR) is 13.16%.

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.