United States Steel Co. (NYSE:X) Holdings Decreased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its position in shares of United States Steel Co. (NYSE:X) by 83.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,123 shares of the basic materials company’s stock after selling 20,510 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in United States Steel were worth $201,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in X. Wolff Wiese Magana LLC grew its holdings in shares of United States Steel by 181.4% during the third quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 635 shares during the last quarter. Fifth Third Bancorp grew its stake in United States Steel by 60.8% during the 3rd quarter. Fifth Third Bancorp now owns 1,270 shares of the basic materials company’s stock worth $41,000 after buying an additional 480 shares during the last quarter. Rise Advisors LLC acquired a new stake in United States Steel in the fourth quarter worth $97,000. Trust Co. of Vermont bought a new stake in United States Steel in the third quarter valued at $65,000. Finally, CWM LLC boosted its holdings in shares of United States Steel by 51.1% during the third quarter. CWM LLC now owns 2,828 shares of the basic materials company’s stock valued at $92,000 after acquiring an additional 957 shares during the period. Institutional investors and hedge funds own 81.92% of the company’s stock.

Analyst Ratings Changes

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

United States Steel Trading Up 0.7 %

Shares of X stock opened at $37.42 on Friday. United States Steel Co. has a fifty-two week low of $20.40 and a fifty-two week high of $50.20. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $8.41 billion, a P/E ratio of 10.66 and a beta of 2.00. The stock has a 50-day simple moving average of $42.44 and a 200 day simple moving average of $41.39.

United States Steel (NYSE:X) last announced its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.46. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. 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 company posted $0.87 EPS. The business’s revenue was down 4.5% compared to the same quarter last year. On average, sell-side analysts expect that United States Steel Co. will post 2.99 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 12th were given a dividend of $0.05 per share. The ex-dividend date was Friday, February 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. United States Steel’s dividend payout ratio (DPR) is presently 5.70%.

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.