Teachers Retirement System of The State of Kentucky Sells 1,960 Shares of United States Steel Co. (NYSE:X)

Teachers Retirement System of The State of Kentucky decreased its stake in shares of United States Steel Co. (NYSE:X) by 2.6% during the third quarter, HoldingsChannel.com reports. The firm owned 73,860 shares of the basic materials company’s stock after selling 1,960 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in United States Steel were worth $2,609,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rockefeller Capital Management L.P. raised its position in shares of United States Steel by 646.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 506,694 shares of the basic materials company’s stock valued at $17,902,000 after buying an additional 438,771 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in United States Steel by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,600,708 shares of the basic materials company’s stock valued at $91,883,000 after purchasing an additional 28,293 shares in the last quarter. Water Island Capital LLC lifted its stake in United States Steel by 5.3% during the second quarter. Water Island Capital LLC now owns 906,092 shares of the basic materials company’s stock worth $34,250,000 after purchasing an additional 45,567 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of United States Steel in the 3rd quarter worth about $608,000. Finally, KGH Ltd raised its holdings in shares of United States Steel by 68.2% during the 2nd quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock valued at $160,839,000 after buying an additional 1,724,670 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

United States Steel Trading Down 2.2 %

Shares of X opened at $33.26 on Monday. United States Steel Co. has a 1-year low of $26.92 and a 1-year high of $50.20. The firm has a market capitalization of $7.49 billion, a price-to-earnings ratio of 21.88 and a beta of 1.83. The firm’s 50-day moving average price is $38.29 and its 200-day moving average price is $37.96. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35.

United States Steel (NYSE:X) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the business earned $1.36 EPS. The business’s revenue for the quarter was down 13.0% on a year-over-year basis. Sell-side analysts anticipate that United States Steel Co. will post 2.17 EPS for the current year.

United States Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.60%. United States Steel’s dividend payout ratio (DPR) is 13.16%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on X shares. BMO Capital Markets cut their price objective on shares of United States Steel from $45.00 to $43.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. upgraded United States Steel from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $40.00 to $42.00 in a report on Monday, September 9th. Jefferies Financial Group dropped their target price 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. BNP Paribas raised United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Friday, September 6th. Finally, StockNews.com initiated coverage on United States Steel in a research note on Monday, August 19th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, United States Steel presently has a consensus rating of “Moderate Buy” and an average price target of $42.80.

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.