United States Steel Co. (NYSE:X) is Alpine Associates Management Inc.’s 8th Largest Position

Alpine Associates Management Inc. decreased its position in shares of United States Steel Co. (NYSE:X) by 41.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,471,454 shares of the basic materials company’s stock after selling 1,056,080 shares during the period. United States Steel makes up approximately 3.0% of Alpine Associates Management Inc.’s holdings, making the stock its 8th largest holding. Alpine Associates Management Inc. owned approximately 0.65% of United States Steel worth $50,015,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE grew its holdings in shares of United States Steel by 40.1% during the 3rd quarter. US Bancorp DE now owns 9,018 shares of the basic materials company’s stock valued at $319,000 after purchasing an additional 2,581 shares during the last quarter. Sigma Planning Corp grew its stake in shares of United States Steel by 6.7% during the third quarter. Sigma Planning Corp now owns 14,660 shares of the basic materials company’s stock valued at $518,000 after buying an additional 920 shares during the last quarter. Rakuten Securities Inc. increased its holdings in shares of United States Steel by 9.2% in the third quarter. Rakuten Securities Inc. now owns 3,328 shares of the basic materials company’s stock worth $118,000 after buying an additional 279 shares during the period. Verus Capital Partners LLC lifted its stake in shares of United States Steel by 88.6% in the 3rd quarter. Verus Capital Partners LLC now owns 28,940 shares of the basic materials company’s stock valued at $1,022,000 after acquiring an additional 13,594 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in United States Steel during the 3rd quarter valued at about $608,000. Institutional investors own 81.92% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on X. Morgan Stanley boosted their price objective on United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a research report on Friday. Bank of America began coverage on shares of United States Steel in a research report on Monday, January 6th. They set a “neutral” rating and a $35.00 price target for the company. Jefferies Financial Group decreased their price objective on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. cut their target price on United States Steel from $44.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, BMO Capital Markets lowered their price target on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, United States Steel presently has an average rating of “Moderate Buy” and a consensus price target of $40.32.

United States Steel Price Performance

X stock opened at $36.26 on Friday. United States Steel Co. has a 1 year low of $26.92 and a 1 year high of $47.79. The company has a market cap of $8.17 billion, a P/E ratio of 24.33, a PEG ratio of 1.53 and a beta of 1.86. The firm has a 50-day moving average of $36.59 and a 200 day moving average of $36.67. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91.

United States Steel (NYSE:X) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. On average, sell-side analysts forecast that United States Steel Co. will post 1.43 EPS for the current year.

United States Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Monday, February 10th. United States Steel’s dividend payout ratio is 13.42%.

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.