American International Group Inc. Sells 5,127 Shares of United States Steel Co. (NYSE:X)

American International Group Inc. lowered its position in United States Steel Co. (NYSE:X) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 296,135 shares of the basic materials company’s stock after selling 5,127 shares during the quarter. American International Group Inc. owned approximately 0.13% of United States Steel worth $12,076,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its stake in United States Steel by 308.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 331,492 shares of the basic materials company’s stock worth $16,127,000 after purchasing an additional 250,311 shares in the last quarter. Gabelli Funds LLC grew its stake in United States Steel by 436.4% in the fourth quarter. Gabelli Funds LLC now owns 214,300 shares of the basic materials company’s stock worth $10,426,000 after purchasing an additional 174,350 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in United States Steel by 4,057.9% during the fourth quarter. International Assets Investment Management LLC now owns 747,553 shares of the basic materials company’s stock worth $36,368,000 after buying an additional 729,574 shares during the period. Louisiana State Employees Retirement System purchased a new stake in United States Steel during the fourth quarter worth $3,045,000. Finally, Third Point LLC lifted its holdings in United States Steel by 15.8% during the fourth quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock worth $267,575,000 after buying an additional 750,000 shares during the period. Institutional investors own 81.92% of the company’s stock.

United States Steel Stock Performance

X traded up $0.09 during midday trading on Wednesday, hitting $39.57. 2,834,810 shares of the company were exchanged, compared to its average volume of 3,815,577. The company’s 50 day simple moving average is $37.64 and its 200 day simple moving average is $41.30. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of 11.60 and a beta of 1.93. The company has a current ratio of 1.71, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. United States Steel Co. has a 1-year low of $22.26 and a 1-year high of $50.20.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.22 billion. United States Steel had a return on equity of 10.61% and a net margin of 4.89%. As a group, sell-side analysts predict that United States Steel Co. will post 2.49 earnings per share for the current year.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Monday, May 13th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, May 10th. United States Steel’s dividend payout ratio (DPR) is presently 5.87%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wolfe Research upgraded United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 target price for the company in a report on Tuesday, April 9th. Morgan Stanley upgraded United States Steel from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $51.00 to $48.00 in a report on Monday, May 6th. JPMorgan Chase & Co. decreased their price objective on United States Steel from $43.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. BMO Capital Markets upgraded United States Steel from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $43.00 to $45.00 in a report on Wednesday, June 26th. Finally, StockNews.com began coverage on United States Steel in a report on Thursday, July 18th. They set a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $40.00.

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.