United States Steel Co. (NYSE:X) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp cut its position in United States Steel Co. (NYSE:X) by 16.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,259 shares of the basic materials company’s stock after selling 25,807 shares during the quarter. Van ECK Associates Corp owned 0.06% of United States Steel worth $5,353,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacific Capital Wealth Advisors Inc. purchased a new stake in United States Steel during the 4th quarter worth about $25,000. Byrne Asset Management LLC increased its position in United States Steel by 1,140.0% in the 1st quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 570 shares during the period. GAMMA Investing LLC acquired a new position in United States Steel in the 4th quarter valued at about $33,000. Riverview Trust Co acquired a new position in United States Steel in the 1st quarter valued at about $29,000. Finally, Pineridge Advisors LLC acquired a new position in United States Steel in the 4th quarter valued at about $44,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

United States Steel Stock Down 1.1 %

Shares of X stock traded down $0.43 during trading hours on Friday, hitting $38.76. 973,120 shares of the company were exchanged, compared to its average volume of 3,950,928. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.71. United States Steel Co. has a one year low of $22.26 and a one year high of $50.20. The business’s 50-day simple moving average is $37.35 and its two-hundred day simple moving average is $42.29. The stock has a market capitalization of $8.72 billion, a price-to-earnings ratio of 11.40 and a beta of 1.93.

United States Steel (NYSE:X) last issued its earnings results on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. The firm had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Sell-side analysts predict that United States Steel Co. will post 2.63 EPS for the current fiscal year.

United States Steel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Monday, May 13th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. United States Steel’s dividend payout ratio (DPR) is 5.87%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. BMO Capital Markets upgraded United States Steel from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $43.00 to $45.00 in a research report on Wednesday, June 26th. StockNews.com assumed coverage on United States Steel in a research report on Tuesday. They set a “hold” rating on the stock. Morgan Stanley upgraded United States Steel from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $51.00 to $48.00 in a research report on Monday, May 6th. Finally, Jefferies Financial Group assumed coverage on United States Steel in a research report on Monday, May 20th. They set a “buy” rating and a $45.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, United States Steel has an average rating of “Hold” and a consensus price target of $38.78.

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.