Amalgamated Bank Lowers Stake in United States Steel Co. (NYSE:X)

Amalgamated Bank lessened its holdings in United States Steel Co. (NYSE:X) by 8.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,204 shares of the basic materials company’s stock after selling 12,178 shares during the period. Amalgamated Bank’s holdings in United States Steel were worth $5,300,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Rothschild Investment LLC acquired a new position in shares of United States Steel during the 2nd quarter worth about $26,000. Riverview Trust Co acquired a new position in shares of United States Steel during the first quarter valued at approximately $29,000. Blue Trust Inc. lifted its position in shares of United States Steel by 339.0% in the second quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 773 shares in the last quarter. Pineridge Advisors LLC acquired a new stake in shares of United States Steel in the fourth quarter worth approximately $44,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in United States Steel in the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group dropped their target price on shares of 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 upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target for the company in a research report on Friday, September 6th. Glj Research upgraded United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective on the stock in a research report on Monday, September 9th. BMO Capital Markets upgraded United States Steel from a “market perform” rating to an “outperform” rating and upped their target price for the company from $43.00 to $45.00 in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. upgraded United States Steel from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $40.00 to $42.00 in a report on Monday, September 9th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.76.

United States Steel Price Performance

United States Steel stock opened at $38.96 on Friday. The company’s 50 day moving average is $38.09 and its two-hundred day moving average is $38.70. The firm has a market cap of $8.76 billion, a PE ratio of 11.43 and a beta of 1.88. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. United States Steel Co. has a 52-week low of $26.92 and a 52-week high of $50.20.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.01 billion. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The business’s revenue for the quarter was down 17.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.92 earnings per share. On average, research analysts expect that United States Steel Co. will post 2.15 EPS for the current fiscal year.

United States Steel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 12th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Monday, August 12th. United States Steel’s dividend payout ratio is presently 5.87%.

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.