United States Steel Co. (NYSE:X) Stock Holdings Lowered by Alpine Associates Management Inc.

Alpine Associates Management Inc. decreased its position in shares of United States Steel Co. (NYSE:X) by 41.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,471,454 shares of the basic materials company’s stock after selling 1,056,080 shares during the quarter. United States Steel accounts for 3.0% of Alpine Associates Management Inc.’s portfolio, making the stock its 8th largest position. Alpine Associates Management Inc.’s holdings in United States Steel were worth $50,015,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in X. US Bancorp DE grew its holdings in shares of United States Steel by 40.1% during the third quarter. US Bancorp DE now owns 9,018 shares of the basic materials company’s stock valued at $319,000 after buying an additional 2,581 shares during the last quarter. Sigma Planning Corp boosted its holdings in United States Steel by 6.7% in the third quarter. Sigma Planning Corp now owns 14,660 shares of the basic materials company’s stock worth $518,000 after purchasing an additional 920 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in United States Steel by 9.2% in the third quarter. Rakuten Securities Inc. now owns 3,328 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 279 shares during the last quarter. Verus Capital Partners LLC boosted its holdings in United States Steel by 88.6% in the third quarter. Verus Capital Partners LLC now owns 28,940 shares of the basic materials company’s stock worth $1,022,000 after purchasing an additional 13,594 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in United States Steel in the third quarter worth approximately $608,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on X shares. JPMorgan Chase & Co. dropped their target price on shares of United States Steel from $44.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. BMO Capital Markets dropped their target price on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Jefferies Financial Group decreased their price target on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Morgan Stanley increased their price target on shares of United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Bank of America initiated coverage on shares of United States Steel in a research report on Monday, January 6th. They issued a “neutral” rating and a $35.00 price target on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.32.

United States Steel Stock Down 2.5 %

Shares of X stock opened at $36.26 on Friday. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.53 and a beta of 1.86. United States Steel Co. has a one year low of $26.92 and a one year high of $47.79. The company’s fifty day moving average price is $36.59 and its 200-day moving average price is $36.67. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. Sell-side analysts expect that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th will be issued a $0.05 dividend. The ex-dividend date is Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. United States Steel’s dividend payout ratio is currently 13.42%.

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.