Ameriprise Financial Inc. Cuts Stake in United States Steel Co. (NYSE:X)

Ameriprise Financial Inc. cut its stake in United States Steel Co. (NYSE:X) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,392 shares of the basic materials company’s stock after selling 10,162 shares during the quarter. Ameriprise Financial Inc. owned about 0.12% of United States Steel worth $9,191,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors grew its stake in shares of United States Steel by 16.1% during the fourth quarter. Arkadios Wealth Advisors now owns 21,635 shares of the basic materials company’s stock valued at $735,000 after acquiring an additional 3,000 shares in the last quarter. ARS Investment Partners LLC acquired a new position in United States Steel in the fourth quarter worth about $15,510,000. SG Americas Securities LLC grew its stake in United States Steel by 25.8% in the fourth quarter. SG Americas Securities LLC now owns 4,575 shares of the basic materials company’s stock worth $156,000 after purchasing an additional 937 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in United States Steel by 153.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 15,201 shares of the basic materials company’s stock worth $517,000 after purchasing an additional 9,210 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in United States Steel by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 23,936 shares of the basic materials company’s stock worth $814,000 after purchasing an additional 605 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

United States Steel Stock Performance

NYSE X opened at $41.16 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. The stock has a market cap of $9.32 billion, a P/E ratio of 27.62, a PEG ratio of 1.53 and a beta of 1.82. United States Steel Co. has a twelve month low of $26.92 and a twelve month high of $46.18. The company’s 50-day simple moving average is $41.93 and its 200 day simple moving average is $38.53.

United States Steel (NYSE:X) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.54 billion. United States Steel had a return on equity of 4.27% and a net margin of 2.46%. United States Steel’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 earnings per share. As a group, research analysts forecast that United States Steel Co. will post 1.43 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Monday, May 12th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.49%. United States Steel’s payout ratio is presently 68.97%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on X shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $38.00 price target (down from $43.00) on shares of United States Steel in a research report on Wednesday, April 16th. Morgan Stanley increased their price target on United States Steel from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $45.00 price target on shares of United States Steel in a research report on Monday, March 31st. Five 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 presently has a consensus rating of “Hold” and a consensus price target of $39.22.

United States Steel 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.