Stratos Wealth Partners LTD. Cuts Stake in United States Steel Corporation (NYSE:X)

Stratos Wealth Partners LTD. reduced its position in United States Steel Corporation (NYSE:X) by 19.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,447 shares of the basic materials company’s stock after selling 2,042 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in United States Steel were worth $357,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its stake in shares of United States Steel by 643.8% during the 1st quarter. Golden State Wealth Management LLC now owns 595 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 515 shares during the last quarter. HM Payson & Co. lifted its stake in shares of United States Steel by 57.2% during the 1st quarter. HM Payson & Co. now owns 706 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 257 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of United States Steel by 64.0% during the 4th quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 277 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new stake in shares of United States Steel during the 1st quarter worth $31,000. Finally, Versant Capital Management Inc lifted its stake in shares of United States Steel by 45.3% during the 1st quarter. Versant Capital Management Inc now owns 911 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 284 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

United States Steel Trading Up 0.2%

NYSE:X opened at $54.97 on Wednesday. The stock has a fifty day moving average price of $51.21 and a 200 day moving average price of $43.20. The firm has a market cap of $12.45 billion, a PE ratio of 189.56, a price-to-earnings-growth ratio of 2.21 and a beta of 1.87. United States Steel Corporation has a 12-month low of $26.92 and a 12-month high of $54.91. The company has a current ratio of 1.45, a quick ratio of 0.75 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last released its quarterly earnings data on Thursday, May 1st. The basic materials company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.04). United States Steel had a return on equity of 1.69% and a net margin of 0.64%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period in the previous year, the business posted $0.82 EPS. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. Sell-side analysts anticipate that United States Steel Corporation will post 1.43 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 12th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Monday, May 12th. United States Steel’s dividend payout ratio is currently 68.97%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on X. JPMorgan Chase & Co. increased their price objective on United States Steel from $39.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, June 2nd. Morgan Stanley increased their price objective on United States Steel from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Wolfe Research reissued a “peer perform” rating on shares of United States Steel in a report on Tuesday, May 27th. Jefferies Financial Group reissued a “hold” rating and issued a $55.00 price objective (up from $50.00) on shares of United States Steel in a report on Tuesday, May 27th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $45.00 price objective on shares of United States Steel in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $43.80.

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.