Handelsbanken Fonder AB Sells 5,700 Shares of United States Steel Co. (NYSE:X)

Handelsbanken Fonder AB reduced its holdings in United States Steel Co. (NYSE:X) by 15.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,300 shares of the basic materials company’s stock after selling 5,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in United States Steel were worth $1,523,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its holdings in United States Steel by 181.4% in the third quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 635 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of United States Steel during the fourth quarter valued at approximately $53,000. Fifth Third Bancorp increased its holdings in shares of United States Steel by 60.8% during the third quarter. Fifth Third Bancorp now owns 1,270 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 480 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of United States Steel during the fourth quarter valued at approximately $97,000. Finally, Trust Co. of Vermont bought a new stake in shares of United States Steel during the third quarter valued at approximately $65,000. 81.92% of the stock is currently owned by institutional investors.

United States Steel Stock Up 0.7 %

Shares of NYSE:X opened at $37.42 on Friday. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of 10.66 and a beta of 2.00. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.37. United States Steel Co. has a 12-month low of $20.40 and a 12-month high of $50.20. The business’s 50 day moving average is $42.44 and its 200 day moving average is $41.39.

United States Steel (NYSE:X) last announced its earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.46. United States Steel had a return on equity of 10.80% and a net margin of 4.96%. The company had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter in the previous year, the firm earned $0.87 earnings per share. United States Steel’s quarterly revenue was down 4.5% on a year-over-year basis. On average, sell-side analysts forecast that United States Steel Co. will post 2.99 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 12th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.20 annualized dividend and a yield of 0.53%. United States Steel’s dividend payout ratio is currently 5.70%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on X shares. Wolfe Research upgraded United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective for the company in a report on Tuesday, April 9th. BMO Capital Markets decreased their price objective on United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a report on Tuesday, March 19th. JPMorgan Chase & Co. started coverage on United States Steel in a report on Friday, January 12th. They set a “neutral” rating and a $52.00 price objective for the company. StockNews.com started coverage on United States Steel in a report on Sunday, April 21st. They set a “hold” rating for the company. Finally, Morgan Stanley downgraded United States Steel from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $40.00 to $51.00 in a report on Thursday, February 15th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $37.89.

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.