United States Steel Co. (NYSE:X) Position Reduced by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its position in shares of United States Steel Co. (NYSE:X) by 2.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 62,000 shares of the basic materials company’s stock after selling 1,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in United States Steel were worth $2,190,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Water Island Capital LLC grew its position in United States Steel by 5.3% during the 2nd 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 in the last quarter. KGH Ltd grew its position in 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 worth $160,839,000 after purchasing an additional 1,724,670 shares in the last quarter. Janus Henderson Group PLC grew its position in United States Steel by 94.3% during the 1st quarter. Janus Henderson Group PLC now owns 211,043 shares of the basic materials company’s stock worth $8,601,000 after purchasing an additional 102,450 shares in the last quarter. Gamco Investors INC. ET AL grew its position in United States Steel by 146.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 26,000 shares of the basic materials company’s stock worth $1,060,000 after purchasing an additional 15,450 shares in the last quarter. Finally, CWM LLC grew its position in United States Steel by 54.5% during the 2nd quarter. CWM LLC now owns 3,856 shares of the basic materials company’s stock worth $146,000 after purchasing an additional 1,360 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on X shares. Morgan Stanley lifted their price objective on shares of United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. StockNews.com began coverage on shares of United States Steel in a report on Monday, August 19th. They set a “hold” rating on the stock. JPMorgan Chase & Co. upgraded shares of United States Steel from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $40.00 to $42.00 in a report on Monday, September 9th. Glj Research upgraded shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price target on the stock in a report on Monday, September 9th. Finally, Jefferies Financial Group lowered their price target on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.62.

United States Steel Trading Up 2.6 %

Shares of NYSE:X opened at $39.44 on Wednesday. The stock has a market capitalization of $8.87 billion, a PE ratio of 17.61 and a beta of 1.87. United States Steel Co. has a 1 year low of $26.92 and a 1 year high of $50.20. The firm has a fifty day moving average price of $36.47 and a 200 day moving average price of $37.70. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

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

United States Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th 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 was Monday, August 12th. United States Steel’s dividend payout ratio is currently 8.93%.

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.