Russell Investments Group Ltd. Has $9.78 Million Stake in United States Steel Co. (NYSE:X)

Russell Investments Group Ltd. reduced its stake in United States Steel Co. (NYSE:X) by 2.7% during the fourth quarter, HoldingsChannel reports. The firm owned 201,114 shares of the basic materials company’s stock after selling 5,629 shares during the quarter. Russell Investments Group Ltd.’s holdings in United States Steel were worth $9,784,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in X. Wolff Wiese Magana LLC boosted its position 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 valued at $32,000 after buying an additional 635 shares in the last quarter. GAMMA Investing LLC bought a new stake in United States Steel during the 4th quarter worth $33,000. Fifth Third Bancorp increased its holdings in United States Steel by 60.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,270 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 480 shares in the last quarter. Rakuten Securities Inc. bought a new position in United States Steel in the fourth quarter valued at about $53,000. Finally, Trust Co. of Vermont acquired a new stake in United States Steel during the 3rd quarter worth approximately $65,000. 81.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. StockNews.com initiated coverage on shares of United States Steel in a research note on Monday, April 29th. They issued a “hold” rating on the stock. BMO Capital Markets decreased their price target 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. dropped their price objective on United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday. Wolfe Research raised 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. Finally, Morgan Stanley lowered United States Steel from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $40.00 to $51.00 in a research note on Thursday, February 15th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $38.38.

United States Steel Trading Down 1.6 %

Shares of United States Steel stock opened at $36.47 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.71. United States Steel Co. has a 52 week low of $20.40 and a 52 week high of $50.20. The stock has a 50 day moving average price of $41.48 and a two-hundred day moving average price of $41.58. The stock has a market capitalization of $8.20 billion, a PE ratio of 10.70 and a beta of 2.06.

United States Steel (NYSE:X) last announced its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.46. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the previous year, the business posted $0.87 EPS. United States Steel’s quarterly revenue was down 4.5% on a year-over-year basis. As a group, equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Monday, May 13th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. 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.