Palliser Capital UK Ltd Cuts Stock Position in United States Steel Co. (NYSE:X)

Palliser Capital UK Ltd trimmed its stake in United States Steel Co. (NYSE:X - Free Report) by 35.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 213,783 shares of the basic materials company's stock after selling 118,317 shares during the quarter. United States Steel accounts for 5.8% of Palliser Capital UK Ltd's portfolio, making the stock its 5th largest position. Palliser Capital UK Ltd owned about 0.09% of United States Steel worth $7,266,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of United States Steel by 4,305.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company's stock worth $137,379,000 after buying an additional 3,551,870 shares during the period. Castle Hook Partners LP bought a new stake in United States Steel in the third quarter valued at about $91,712,000. KGH Ltd grew its stake in shares of United States Steel by 68.2% in the 2nd quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company's stock valued at $160,839,000 after purchasing an additional 1,724,670 shares during the period. Holocene Advisors LP acquired a new position in United States Steel during the third quarter worth $51,620,000. Finally, Forest Avenue Capital Management LP acquired a new stake in shares of United States Steel during the 2nd quarter worth about $22,770,000. Institutional investors and hedge funds own 81.92% of the company's stock.

United States Steel Stock Performance

X traded down $0.64 on Thursday, reaching $35.87. The company had a trading volume of 3,504,326 shares, compared to its average volume of 12,174,138. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week high of $48.85. The company's fifty day moving average is $35.84 and its 200 day moving average is $37.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.08 and a current ratio of 1.67. The stock has a market cap of $8.08 billion, a P/E ratio of 23.65 and a beta of 1.88.

United States Steel (NYSE:X - Get Free Report) last posted its quarterly earnings data 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 net margin of 2.41% and a return on equity of 6.01%. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The business's revenue for the quarter was down 13.0% compared to the same quarter last year. As a group, analysts predict that United States Steel Co. will post 1.99 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.56%. The ex-dividend date was Friday, November 8th. United States Steel's payout ratio is 13.16%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on X. Bank of America assumed 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. BMO Capital Markets reduced their price target on shares of United States Steel from $43.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, December 20th. Finally, Jefferies Financial Group decreased their price objective on 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. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $41.32.

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.