Versor Investments LP Decreases Stock Position in United States Steel Co. (NYSE:X)

Versor Investments LP trimmed its holdings in United States Steel Co. (NYSE:X) by 46.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 89,040 shares of the basic materials company’s stock after selling 75,806 shares during the period. United States Steel accounts for about 0.5% of Versor Investments LP’s investment portfolio, making the stock its 19th largest position. Versor Investments LP’s holdings in United States Steel were worth $3,026,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Castle Hook Partners LP purchased a new position in shares of United States Steel during the 3rd quarter worth approximately $91,712,000. Holocene Advisors LP acquired a new stake in United States Steel during the 3rd quarter valued at $51,620,000. Massachusetts Financial Services Co. MA increased its position in United States Steel by 26.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,598,831 shares of the basic materials company’s stock worth $162,477,000 after buying an additional 964,467 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of United States Steel by 4,445.5% in the third quarter. International Assets Investment Management LLC now owns 571,326 shares of the basic materials company’s stock valued at $20,185,000 after acquiring an additional 558,757 shares in the last quarter. Finally, E. Ohman J or Asset Management AB acquired a new stake in shares of United States Steel during the fourth quarter valued at $17,907,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

United States Steel Stock Performance

United States Steel stock opened at $37.79 on Thursday. The company has a market cap of $8.51 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86. United States Steel Co. has a 12 month low of $26.92 and a 12 month high of $48.13. 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 stock’s 50-day moving average is $35.64 and its 200-day moving average is $36.81.

United States Steel (NYSE:X) last posted its quarterly earnings results 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 net margin of 2.46% and a return on equity of 4.27%. Equities analysts anticipate that United States Steel Co. will post 1.43 earnings per share for the current year.

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Monday, February 10th will be issued a $0.05 dividend. The ex-dividend date is Monday, February 10th. This represents a $0.20 annualized dividend and a yield of 0.53%. United States Steel’s dividend payout ratio is currently 13.42%.

Wall Street Analyst Weigh In

X has been the subject of several analyst reports. BMO Capital Markets cut their target price on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Morgan Stanley restated an “equal weight” rating and set a $39.00 target price on shares of United States Steel in a research report on Monday, February 3rd. Bank of America began coverage on United States Steel in a report on Monday, January 6th. They issued a “neutral” rating and a $35.00 price target for the company. Jefferies Financial Group decreased their price objective on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their target price on United States Steel from $44.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.82.

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.