United States Steel Co. (NYSE:X) Stock Position Decreased by Panagora Asset Management Inc.

Panagora Asset Management Inc. lowered its holdings in United States Steel Co. (NYSE:X) by 31.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,622 shares of the basic materials company’s stock after selling 4,809 shares during the period. Panagora Asset Management Inc.’s holdings in United States Steel were worth $517,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of X. Beacon Pointe Advisors LLC bought a new stake in shares of United States Steel during the fourth quarter valued at approximately $246,000. Quadrant Capital Group LLC boosted its position in shares of United States Steel by 18.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,004 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 313 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of United States Steel by 36.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 34,501 shares of the basic materials company’s stock valued at $1,678,000 after buying an additional 9,126 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of United States Steel by 29.3% during the fourth quarter. QRG Capital Management Inc. now owns 19,277 shares of the basic materials company’s stock worth $938,000 after purchasing an additional 4,365 shares during the period. Finally, AGF Management Ltd. purchased a new stake in United States Steel during the fourth quarter valued at about $3,935,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

United States Steel Stock Performance

X opened at $35.90 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.71 and a debt-to-equity ratio of 0.36. The stock’s 50 day moving average price is $38.93 and its two-hundred day moving average price is $41.89. The firm has a market capitalization of $8.07 billion, a P/E ratio of 10.53 and a beta of 2.06. United States Steel Co. has a 12-month low of $20.40 and a 12-month high of $50.20.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.01. The business had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.22 billion. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. On average, equities analysts forecast that United States Steel Co. will post 3.02 earnings per share for the current year.

United States Steel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Monday, May 13th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, May 10th. United States Steel’s payout ratio is presently 5.87%.

About United States Steel

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.