Bank of New York Mellon Corp Lowers Stock Holdings in United States Steel Co. (NYSE:X)

Bank of New York Mellon Corp decreased its stake in shares of United States Steel Co. (NYSE:X - Free Report) by 14.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,603,993 shares of the basic materials company's stock after selling 260,542 shares during the quarter. Bank of New York Mellon Corp owned about 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 the stock. Empirical Asset Management LLC acquired a new position in shares of United States Steel in the fourth quarter valued at about $525,000. ARS Investment Partners LLC acquired a new position in shares of United States Steel during the 4th quarter worth approximately $15,510,000. Rockefeller Capital Management L.P. increased its holdings 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 worth $17,902,000 after purchasing an additional 438,771 shares during the period. Geode Capital Management LLC raised its position in shares of United States Steel by 1.0% in 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 buying an additional 37,528 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of United States Steel by 1.1% in 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 buying an additional 28,293 shares during the period. Institutional investors own 81.92% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. BMO Capital Markets dropped their price objective on United States Steel from $43.00 to $40.00 and set an "outperform" rating for the company in a report on Friday, December 20th. JPMorgan Chase & Co. cut 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 report on Friday, January 17th. Morgan Stanley reissued an "equal weight" rating and issued a $39.00 target price on shares of United States Steel in a report on Monday, February 3rd. 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. Finally, Jefferies Financial Group lowered their price objective on shares of United States Steel from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $39.82.

United States Steel Trading Down 0.8 %

NYSE:X traded down $0.31 on Wednesday, reaching $37.39. 3,741,572 shares of the stock traded hands, compared to its average volume of 7,170,374. 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 1-year low of $26.92 and a 1-year high of $48.07. The company's 50 day moving average is $36.26 and its 200-day moving average is $36.69. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86.

United States Steel (NYSE:X - Get Free Report) last announced 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 return on equity of 4.27% and a net margin of 2.46%. Equities research analysts anticipate that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently announced 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 payout ratio is 13.42%.

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.