New York State Common Retirement Fund Has $6.65 Million Stock Position in United States Steel Co. (NYSE:X)

New York State Common Retirement Fund lessened its stake in United States Steel Co. (NYSE:X) by 16.2% in the 4th quarter, HoldingsChannel reports. The fund owned 136,600 shares of the basic materials company’s stock after selling 26,500 shares during the quarter. New York State Common Retirement Fund’s holdings in United States Steel were worth $6,646,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Third Point LLC bought a new stake in shares of United States Steel during the third quarter worth $154,280,000. Laurion Capital Management LP bought a new stake in United States Steel during the 3rd quarter worth about $50,912,000. International Assets Investment Management LLC lifted its position in United States Steel by 4,057.9% during the 4th quarter. International Assets Investment Management LLC now owns 747,553 shares of the basic materials company’s stock valued at $36,368,000 after purchasing an additional 729,574 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of United States Steel in the 4th quarter valued at about $22,034,000. Finally, Gemsstock Ltd. acquired a new stake in shares of United States Steel during the 3rd quarter worth approximately $12,891,000. 81.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on X. Morgan Stanley lowered United States Steel from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $40.00 to $51.00 in a research report on Thursday, February 15th. JPMorgan Chase & Co. cut their price objective on shares of United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday. BMO Capital Markets dropped 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. Wolfe Research raised United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a research report on Tuesday, April 9th. Finally, StockNews.com started coverage on United States Steel in a research note on Monday, April 29th. They issued a “hold” rating on the stock. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $36.89.

United States Steel Stock Performance

Shares of NYSE X opened at $36.47 on Friday. The stock has a 50 day moving average of $41.48 and a 200-day moving average of $41.46. United States Steel Co. has a 12 month low of $20.40 and a 12 month high of $50.20. The company has a market capitalization of $8.20 billion, a P/E ratio of 10.70 and a beta of 2.06. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.37.

United States Steel (NYSE:X) last announced its earnings results on Friday, February 2nd. The basic materials company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.21 by $0.46. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.73 billion. United States Steel had a net margin of 4.89% and a return on equity of 10.68%. United States Steel’s revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 EPS. As a group, equities research analysts predict that United States Steel Co. will post 2.99 EPS for the current year.

United States Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, May 10th. United States Steel’s dividend payout ratio is presently 5.87%.

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.