Public Employees Retirement Association of Colorado Has $928,000 Stake in United States Steel Co. (NYSE:X)

Public Employees Retirement Association of Colorado reduced its position in shares of United States Steel Co. (NYSE:X) by 5.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,554 shares of the basic materials company’s stock after selling 1,539 shares during the period. Public Employees Retirement Association of Colorado’s holdings in United States Steel were worth $928,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gabelli Funds LLC grew its holdings in shares of United States Steel by 436.4% during the fourth quarter. Gabelli Funds LLC now owns 214,300 shares of the basic materials company’s stock worth $10,426,000 after purchasing an additional 174,350 shares during the last quarter. Third Point LLC boosted its holdings in United States Steel by 15.8% in the fourth quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock valued at $267,575,000 after acquiring an additional 750,000 shares during the last quarter. Weiss Asset Management LP bought a new stake in United States Steel in the fourth quarter valued at approximately $6,408,000. Janus Henderson Group PLC boosted its holdings in United States Steel by 94.3% in the first quarter. Janus Henderson Group PLC now owns 211,043 shares of the basic materials company’s stock valued at $8,601,000 after acquiring an additional 102,450 shares during the last quarter. Finally, Carmignac Gestion bought a new stake in United States Steel in the fourth quarter valued at approximately $1,649,000. 81.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on X. JPMorgan Chase & Co. upgraded United States Steel from a “neutral” rating to an “overweight” rating and upped their target price for the company from $40.00 to $42.00 in a report on Monday, September 9th. Jefferies Financial Group reduced their target price on United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Morgan Stanley upped their target price on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Friday, September 6th. Finally, Glj Research upgraded 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. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.76.

United States Steel Price Performance

Shares of NYSE:X opened at $37.80 on Wednesday. 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 twelve month low of $26.92 and a twelve month high of $50.20. The stock’s 50 day moving average is $38.08 and its 200-day moving average is $38.44. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 11.09 and a beta of 1.88.

United States Steel (NYSE:X) last issued 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. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the firm earned $1.92 earnings per share. United States Steel’s revenue for the quarter was down 17.8% on a year-over-year basis. Sell-side analysts forecast that United States Steel Co. will post 2.15 EPS for the current fiscal year.

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 12th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Monday, August 12th. United States Steel’s payout ratio is currently 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.