United States Steel Co. (NYSE:X) is Alpine Associates Management Inc.'s 8th Largest Position

Alpine Associates Management Inc. reduced its stake in United States Steel Co. (NYSE:X - Free Report) by 41.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,471,454 shares of the basic materials company's stock after selling 1,056,080 shares during the period. United States Steel makes up approximately 3.0% of Alpine Associates Management Inc.'s portfolio, making the stock its 8th biggest position. Alpine Associates Management Inc. owned about 0.65% of United States Steel worth $50,015,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Empirical Asset Management LLC purchased a new stake in United States Steel during the fourth quarter worth about $525,000. ARS Investment Partners LLC purchased a new stake in shares of United States Steel during the fourth quarter worth approximately $15,510,000. Rockefeller Capital Management L.P. increased its stake 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 buying an additional 438,771 shares during the period. Geode Capital Management LLC increased its stake in shares of United States Steel by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,839,684 shares of the basic materials company's stock worth $135,691,000 after buying an additional 37,528 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of United States Steel by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,600,708 shares of the basic materials company's stock worth $91,883,000 after buying an additional 28,293 shares during the period. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of analysts recently weighed in on X shares. BMO Capital Markets cut their target price on shares of United States Steel from $43.00 to $40.00 and set an "outperform" rating on the stock in a research note on Friday, December 20th. Morgan Stanley increased their price objective on United States Steel from $39.00 to $43.00 and gave the company an "equal weight" rating in a report on Friday, March 7th. JPMorgan Chase & Co. increased their price objective on United States Steel from $40.00 to $43.00 and gave the company an "overweight" rating in a report on Tuesday. 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 report on Monday, January 6th. Finally, Bank of America assumed coverage on United States Steel in a report on Monday, January 6th. They issued a "neutral" rating and a $35.00 price objective for the company. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, United States Steel has an average rating of "Moderate Buy" and an average price target of $40.70.

United States Steel Stock Performance

Shares of United States Steel stock traded up $1.05 during trading hours on Wednesday, hitting $38.11. 6,431,345 shares of the company were exchanged, compared to its average volume of 7,062,255. United States Steel Co. has a 1 year low of $26.92 and a 1 year high of $46.77. The company has a current ratio of 1.55, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average of $36.83 and a 200-day moving average of $36.64. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 1.53 and a beta of 1.86.

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 (EPS) 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, analysts expect that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Monday, February 10th. United States Steel's payout ratio is 13.42%.

United States Steel Company 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.