Raymond James & Associates Sells 17,516 Shares of United States Steel Co. (NYSE:X)

Raymond James & Associates cut its holdings in United States Steel Co. (NYSE:X) by 46.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,812 shares of the basic materials company’s stock after selling 17,516 shares during the period. Raymond James & Associates’ holdings in United States Steel were worth $964,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. ICA Group Wealth Management LLC bought a new position in shares of United States Steel during the 4th quarter valued at approximately $28,000. Wolff Wiese Magana LLC boosted its position in shares of 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 worth $32,000 after purchasing an additional 635 shares during the period. Fifth Third Bancorp increased its stake in shares of United States Steel by 60.8% in the third 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. Dark Forest Capital Management LP bought a new stake in shares of United States Steel during the 1st quarter valued at $48,000. Finally, Belpointe Asset Management LLC lifted its stake in shares of United States Steel by 71.7% during the 1st quarter. Belpointe Asset Management LLC now owns 1,962 shares of the basic materials company’s stock valued at $51,000 after buying an additional 819 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. StockNews.com began coverage on United States Steel in a research note on Sunday. They set a “hold” rating on the stock. BMO Capital Markets dropped their target price on shares of 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. Wolfe Research upgraded shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a report on Tuesday, April 9th. Morgan Stanley downgraded shares of United States Steel from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $40.00 to $51.00 in a report on Thursday, February 15th. Finally, JPMorgan Chase & Co. initiated coverage on United States Steel in a report on Friday, January 12th. They issued a “neutral” rating and a $52.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $37.89.

United States Steel Trading Down 0.9 %

Shares of X opened at $38.59 on Monday. The company’s fifty day simple moving average is $43.25 and its 200-day simple moving average is $41.29. The company has a market cap of $8.68 billion, a P/E ratio of 10.99 and a beta of 2.00. The company has a current ratio of 1.76, a quick ratio of 1.22 and a debt-to-equity ratio of 0.37. United States Steel Co. has a twelve month low of $20.40 and a twelve month high of $50.20.

United States Steel (NYSE:X) last announced its earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.46. United States Steel had a return on equity of 10.80% and a net margin of 4.96%. 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 earned $0.87 earnings per share. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. As a group, analysts expect that United States Steel Co. will post 3.18 EPS for the current year.

United States Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 12th were given a $0.05 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.20 annualized dividend and a yield of 0.52%. United States Steel’s dividend payout ratio (DPR) is 5.70%.

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.