California Public Employees Retirement System Sells 47,823 Shares of United States Steel Co. (NYSE:X)

California Public Employees Retirement System reduced its position in shares of United States Steel Co. (NYSE:X – Get Rating) by 8.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 519,789 shares of the basic materials company’s stock after selling 47,823 shares during the period. California Public Employees Retirement System owned about 0.23% of United States Steel worth $13,021,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC lifted its stake in United States Steel by 86.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 50,943 shares of the basic materials company’s stock valued at $1,276,000 after buying an additional 23,593 shares during the period. D.A. Davidson & CO. raised its position in United States Steel by 133.8% in the 3rd quarter. D.A. Davidson & CO. now owns 25,863 shares of the basic materials company’s stock valued at $469,000 after buying an additional 14,800 shares during the last quarter. Cambria Investment Management L.P. raised its position in United States Steel by 82.9% in the 3rd quarter. Cambria Investment Management L.P. now owns 27,456 shares of the basic materials company’s stock valued at $498,000 after buying an additional 12,441 shares during the last quarter. Friedenthal Financial purchased a new stake in United States Steel in the 4th quarter valued at $766,000. Finally, Accuvest Global Advisors raised its position in United States Steel by 94.2% in the 4th quarter. Accuvest Global Advisors now owns 25,636 shares of the basic materials company’s stock valued at $642,000 after buying an additional 12,436 shares during the last quarter. 75.02% of the stock is currently owned by institutional investors.

United States Steel Stock Down 0.4 %

X stock opened at $21.13 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.88 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $4.78 billion, a PE ratio of 3.14 and a beta of 2.14. United States Steel Co. has a twelve month low of $16.41 and a twelve month high of $31.55. The stock has a 50-day simple moving average of $24.95 and a two-hundred day simple moving average of $25.83.

United States Steel (NYSE:X – Get Rating) last posted its earnings results on Friday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.16. The business had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.25 billion. United States Steel had a return on equity of 19.66% and a net margin of 9.07%. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.05 EPS. On average, equities analysts predict that United States Steel Co. will post 4.1 EPS for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 7th. Stockholders of record on Monday, May 8th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, May 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.95%. United States Steel’s dividend payout ratio (DPR) is presently 2.97%.

Insider Activity

In other United States Steel news, Director Andrea J. Ayers purchased 1,000 shares of the company’s stock in a transaction dated Friday, March 3rd. The stock was purchased at an average price of $31.45 per share, for a total transaction of $31,450.00. Following the transaction, the director now owns 5,014 shares in the company, valued at approximately $157,690.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other United States Steel news, SVP Richard Fruehauf sold 37,500 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $31.38, for a total value of $1,176,750.00. Following the completion of the sale, the senior vice president now owns 57,826 shares in the company, valued at $1,814,579.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrea J. Ayers acquired 1,000 shares of the stock in a transaction on Friday, March 3rd. The stock was bought at an average price of $31.45 per share, with a total value of $31,450.00. Following the transaction, the director now directly owns 5,014 shares of the company’s stock, valued at approximately $157,690.30. The disclosure for this purchase can be found here. Corporate insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on X shares. Wolfe Research raised United States Steel from an “underperform” rating to a “market perform” rating in a research report on Monday, March 20th. Morgan Stanley upped their price objective on United States Steel from $20.00 to $31.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 8th. UBS Group reduced their price objective on United States Steel from $27.00 to $25.00 in a research note on Friday, May 5th. The Goldman Sachs Group upped their price objective on United States Steel from $23.00 to $26.00 and gave the company a “sell” rating in a research note on Monday, February 6th. Finally, BMO Capital Markets reduced their price objective on United States Steel from $30.00 to $27.00 in a research note on Monday, May 1st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $28.71.

United States Steel Company Profile

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United States Steel Corp. engages in the manufacturing and selling of steel products. It operates through the following business segments: Flat-Rolled Products, Mini Mill, U.S. Steel Europe, and Tubular Products. The Flat-Rolled Products segment includes managing steel plants and production facilities that manufacture steel slabs, rounds, strip mill plates, sheets, tin mill, iron ore, and coke.