Public Employees Retirement Association of Colorado Raises Stake in United States Steel Co. (NYSE:X)

Public Employees Retirement Association of Colorado increased its stake in United States Steel Co. (NYSE:XFree Report) by 560.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,289 shares of the basic materials company’s stock after purchasing an additional 23,157 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in United States Steel were worth $1,328,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Third Point LLC purchased a new position in shares of United States Steel in the third quarter valued at $154,280,000. Donald Smith & CO. Inc. raised its position in United States Steel by 11.0% during the fourth quarter. Donald Smith & CO. Inc. now owns 4,513,531 shares of the basic materials company’s stock worth $219,583,000 after acquiring an additional 447,186 shares during the last quarter. KGH Ltd lifted its holdings in shares of United States Steel by 7.5% in the third quarter. KGH Ltd now owns 4,488,769 shares of the basic materials company’s stock valued at $145,795,000 after purchasing an additional 315,000 shares in the last quarter. Norges Bank acquired a new stake in shares of United States Steel in the fourth quarter valued at approximately $200,952,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of United States Steel by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,498,737 shares of the basic materials company’s stock worth $121,564,000 after purchasing an additional 94,080 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

United States Steel Stock Performance

Shares of X stock opened at $38.05 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.71. The firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of 11.16 and a beta of 1.99. United States Steel Co. has a one year low of $21.99 and a one year high of $50.20. The company has a 50 day moving average price of $38.39 and a 200 day moving average price of $42.27.

United States Steel (NYSE:XGet Free Report) last issued its earnings results on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. United States Steel had a return on equity of 10.61% and a net margin of 4.89%. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.22 billion. Sell-side analysts anticipate that United States Steel Co. will post 3.03 EPS for the current year.

United States Steel Dividend Announcement

The company also recently announced 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 0.53%. The ex-dividend date is Friday, May 10th. United States Steel’s payout ratio is currently 5.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on X shares. Morgan Stanley upgraded United States Steel from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $51.00 to $48.00 in a report on Monday, May 6th. BMO Capital Markets dropped their price objective on United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a research report on Tuesday, March 19th. JPMorgan Chase & Co. reduced their target price on shares of United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Wolfe Research upgraded shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target for the company in a report on Tuesday, April 9th. Finally, Jefferies Financial Group began coverage on shares of United States Steel in a research note on Monday, May 20th. They set a “buy” rating and a $45.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $38.78.

Check Out Our Latest Report on United States Steel

About United States Steel

(Free Report)

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.

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Institutional Ownership by Quarter for United States Steel (NYSE:X)

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