Invesco Ltd. Sells 244,334 Shares of United States Steel Co. (NYSE:X)

Invesco Ltd. cut its holdings in United States Steel Co. (NYSE:X) by 23.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 800,235 shares of the basic materials company’s stock after selling 244,334 shares during the period. Invesco Ltd. owned about 0.36% of United States Steel worth $27,200,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in X. Gator Capital Management LLC increased its position in United States Steel by 54.5% during the fourth quarter. Gator Capital Management LLC now owns 12,750 shares of the basic materials company’s stock valued at $433,000 after acquiring an additional 4,500 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in United States Steel by 3.9% in the fourth quarter. Russell Investments Group Ltd. now owns 226,158 shares of the basic materials company’s stock worth $7,684,000 after purchasing an additional 8,408 shares during the last quarter. Donald Smith & CO. Inc. boosted its position in shares of United States Steel by 1.4% during the fourth quarter. Donald Smith & CO. Inc. now owns 4,788,075 shares of the basic materials company’s stock valued at $162,747,000 after buying an additional 68,230 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of United States Steel by 3.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,773,225 shares of the basic materials company’s stock valued at $162,242,000 after buying an additional 174,394 shares during the last quarter. Finally, Discovery Capital Management LLC CT lifted its stake in shares of United States Steel by 488.0% during the 4th quarter. Discovery Capital Management LLC CT now owns 556,800 shares of the basic materials company’s stock worth $18,926,000 after acquiring an additional 462,100 shares during the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on X shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $38.00 target price (down previously from $43.00) on shares of United States Steel in a research note on Wednesday. BMO Capital Markets reissued a “market perform” rating and issued a $45.00 price objective on shares of United States Steel in a research report on Monday, March 31st. Bank of America started coverage on shares of United States Steel in a research report on Monday, January 6th. They set a “neutral” rating and a $35.00 target price on the stock. Jefferies Financial Group dropped their price objective on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley upped their target price on United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a report on Friday, March 7th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.94.

United States Steel Trading Down 0.7 %

Shares of NYSE X opened at $41.54 on Friday. The stock has a market capitalization of $9.40 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 1.53 and a beta of 1.79. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91. The business has a fifty day moving average price of $40.15 and a 200 day moving average price of $37.83. United States Steel Co. has a 1-year low of $26.92 and a 1-year high of $46.18.

United States Steel (NYSE:X) last posted 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 return on equity of 4.27% and a net margin of 2.46%. Equities research analysts expect that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, February 10th. United States Steel’s dividend payout ratio (DPR) is presently 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.