California Public Employees Retirement System Has $19.04 Million Stake in United States Steel Co. (NYSE:X)

California Public Employees Retirement System lowered its stake in shares of United States Steel Co. (NYSE:X) by 8.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 391,381 shares of the basic materials company’s stock after selling 35,105 shares during the period. California Public Employees Retirement System’s holdings in United States Steel were worth $19,041,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in X. Raymond James Financial Services Advisors Inc. raised its stake in shares of United States Steel by 308.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 331,492 shares of the basic materials company’s stock valued at $16,127,000 after buying an additional 250,311 shares in the last quarter. FNY Investment Advisers LLC raised its position in United States Steel by 16,065.0% in the fourth quarter. FNY Investment Advisers LLC now owns 32,330 shares of the basic materials company’s stock worth $1,572,000 after purchasing an additional 32,130 shares in the last quarter. International Assets Investment Management LLC lifted its stake in United States Steel by 4,057.9% during the fourth quarter. International Assets Investment Management LLC now owns 747,553 shares of the basic materials company’s stock worth $36,368,000 after purchasing an additional 729,574 shares during the period. SG Americas Securities LLC boosted its holdings in United States Steel by 1,132.8% during the fourth quarter. SG Americas Securities LLC now owns 115,715 shares of the basic materials company’s stock valued at $5,630,000 after purchasing an additional 106,329 shares in the last quarter. Finally, Forest Avenue Capital Management LP bought a new stake in shares of United States Steel in the 3rd quarter valued at approximately $7,435,000. Institutional investors own 81.92% of the company’s stock.

United States Steel Stock Performance

Shares of United States Steel stock opened at $36.98 on Tuesday. The firm has a 50 day simple moving average of $42.26 and a 200 day simple moving average of $41.47. 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 debt-to-equity ratio of 0.37, a current ratio of 1.76 and a quick ratio of 1.22. The firm has a market cap of $8.31 billion, a P/E ratio of 10.54 and a beta of 2.01.

United States Steel (NYSE:X) last released its earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.46. The company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.73 billion. United States Steel had a return on equity of 10.80% and a net margin of 4.96%. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 earnings per share. Sell-side analysts predict that United States Steel Co. will post 2.99 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, March 13th. Stockholders of record on Monday, February 12th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Friday, February 9th. United States Steel’s dividend payout ratio (DPR) is presently 5.70%.

Wall Street Analysts Forecast Growth

X has been the topic of several recent analyst reports. BMO Capital Markets decreased their price target on United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 19th. Morgan Stanley lowered shares of United States Steel from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $40.00 to $51.00 in a report on Thursday, February 15th. StockNews.com began coverage on shares of United States Steel in a report on Monday. They set a “hold” rating for the company. JPMorgan Chase & Co. initiated coverage on shares of United States Steel in a research note on Friday, January 12th. They set a “neutral” rating and a $52.00 price objective on the stock. Finally, Wolfe Research upgraded shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 target price for the company in a research note on Tuesday, April 9th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, United States Steel has an average rating of “Hold” and an average target price of $37.89.

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.