California Public Employees Retirement System Sells 24,432 Shares of United States Steel Co. (NYSE:X)

California Public Employees Retirement System lowered its position in shares of United States Steel Co. (NYSE:X - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 344,334 shares of the basic materials company's stock after selling 24,432 shares during the period. California Public Employees Retirement System owned approximately 0.15% of United States Steel worth $11,704,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Empirical Asset Management LLC purchased a new stake in shares of United States Steel during the 4th quarter valued at about $525,000. ARS Investment Partners LLC purchased a new stake in shares of United States Steel during the 4th quarter valued at about $15,510,000. Geode Capital Management LLC lifted its holdings in shares of United States Steel by 1.0% in the 3rd 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 during the last quarter. Heck Capital Advisors LLC purchased a new position in shares of United States Steel in the 4th quarter worth approximately $554,000. Finally, Captrust Financial Advisors increased its position in shares of United States Steel by 4.8% during the 3rd quarter. Captrust Financial Advisors now owns 7,012 shares of the basic materials company's stock valued at $248,000 after purchasing an additional 321 shares during the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Morgan Stanley boosted 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. BMO Capital Markets reiterated a "market perform" rating and set a $45.00 price target on shares of United States Steel in a report on Monday, March 31st. Bank of America assumed coverage on shares of United States Steel in a research note on Monday, January 6th. They issued a "neutral" rating and a $35.00 price objective for the company. Jefferies Financial Group cut their target price on United States Steel from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. raised their price target on United States Steel from $40.00 to $43.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 11th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $41.32.

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United States Steel Trading Down 1.7 %

X opened at $38.30 on Friday. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $44.87. The company has a market capitalization of $8.67 billion, a P/E ratio of 25.70, a PEG ratio of 1.53 and a beta of 1.79. The stock's fifty day moving average is $38.93 and its two-hundred day moving average is $37.38. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X - Get Free Report) last released its quarterly earnings data 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%. Analysts forecast that United States Steel Co. will post 1.43 earnings per share for the current year.

United States Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Monday, February 10th. 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.

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