Horrell Capital Management Inc. Decreases Stock Holdings in United States Steel Co. (NYSE:X)

Horrell Capital Management Inc. decreased its position in shares of United States Steel Co. (NYSE:X) by 10.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,581 shares of the basic materials company’s stock after selling 2,980 shares during the quarter. Horrell Capital Management Inc.’s holdings in United States Steel were worth $939,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in X. Diversified Trust Co raised its holdings in shares of United States Steel by 4.0% during the 1st quarter. Diversified Trust Co now owns 8,373 shares of the basic materials company’s stock worth $341,000 after acquiring an additional 324 shares during the period. State of Michigan Retirement System grew its position in United States Steel by 2.6% in the 1st quarter. State of Michigan Retirement System now owns 54,899 shares of the basic materials company’s stock valued at $2,239,000 after acquiring an additional 1,400 shares in the last quarter. Commonwealth Equity Services LLC grew its position in United States Steel by 9.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 30,822 shares of the basic materials company’s stock valued at $1,257,000 after acquiring an additional 2,728 shares in the last quarter. Retirement Systems of Alabama grew its position in United States Steel by 0.6% in the 1st quarter. Retirement Systems of Alabama now owns 280,948 shares of the basic materials company’s stock valued at $11,457,000 after acquiring an additional 1,603 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in United States Steel by 14.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,305 shares of the basic materials company’s stock valued at $216,000 after acquiring an additional 651 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

United States Steel Price Performance

X traded up $0.81 during trading on Tuesday, hitting $39.24. The company’s stock had a trading volume of 3,607,276 shares, compared to its average volume of 4,351,331. The stock has a market capitalization of $8.83 billion, a price-to-earnings ratio of 17.17 and a beta of 1.87. United States Steel Co. has a 12 month low of $26.92 and a 12 month high of $50.20. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average price is $36.44 and its two-hundred day moving average price is $37.71.

United States Steel (NYSE:X) last announced its earnings results on Thursday, August 1st. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.12. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.01 billion. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. United States Steel’s revenue for the quarter was down 17.8% compared to the same quarter last year. During the same period last year, the company earned $1.92 EPS. Sell-side analysts forecast that United States Steel Co. will post 2.17 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.51%. United States Steel’s dividend payout ratio is currently 8.93%.

Analyst Ratings Changes

X has been the subject of a number of analyst reports. BNP Paribas raised United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Friday, September 6th. JPMorgan Chase & Co. raised United States Steel from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $42.00 in a research report on Monday, September 9th. Morgan Stanley upped their price target on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Jefferies Financial Group lowered their price target on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Finally, StockNews.com started coverage on United States Steel in a research note on Monday, August 19th. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.62.

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.