ExodusPoint Capital Management LP Lowers Stake in United States Steel Co. (NYSE:X)

ExodusPoint Capital Management LP lessened its holdings in United States Steel Co. (NYSE:X - Free Report) by 48.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,070 shares of the basic materials company's stock after selling 80,737 shares during the period. ExodusPoint Capital Management LP's holdings in United States Steel were worth $2,892,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in X. Norges Bank bought a new stake in shares of United States Steel during the 4th quarter valued at about $130,731,000. Turiya Advisors Asia Ltd purchased a new stake in United States Steel in the 4th quarter worth approximately $19,384,000. E. Ohman J or Asset Management AB purchased a new stake in United States Steel in the fourth quarter worth $17,907,000. Discovery Capital Management LLC CT boosted its stake in shares of United States Steel by 488.0% during the 4th quarter. Discovery Capital Management LLC CT now owns 556,800 shares of the basic materials company's stock valued at $18,926,000 after purchasing an additional 462,100 shares in the last quarter. Finally, ARS Investment Partners LLC purchased a new stake in United States Steel in the fourth quarter worth $15,510,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on X shares. BMO Capital Markets reiterated a "market perform" rating and issued a $45.00 target price on shares of United States Steel in a research note on Monday, March 31st. Bank of America started coverage on shares of United States Steel in a report on Monday, January 6th. They issued a "neutral" rating and a $35.00 price objective on the stock. Jefferies Financial Group cut their price target 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. Morgan Stanley upped their target price on shares of United States Steel from $39.00 to $43.00 and gave the stock an "equal weight" rating in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. increased 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. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $40.65.

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United States Steel Price Performance

NYSE:X traded down $0.78 during trading hours on Friday, reaching $40.10. The stock had a trading volume of 11,745,953 shares, compared to its average volume of 5,420,882. The stock has a market capitalization of $9.08 billion, a PE ratio of 26.91, a PEG ratio of 1.53 and a beta of 1.79. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $46.18. The company has a 50 day moving average price of $39.85 and a two-hundred day moving average price of $37.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55.

United States Steel (NYSE:X - Get Free Report) last announced its quarterly 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%. As a group, sell-side analysts anticipate that United States Steel Co. will post 1.43 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.20 annualized dividend and a yield of 0.50%. United States Steel's payout ratio 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.