Amalgamated Bank Sells 33,534 Shares of United States Steel Co. (NYSE:X)

Amalgamated Bank cut its position in United States Steel Co. (NYSE:X) by 23.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,670 shares of the basic materials company’s stock after selling 33,534 shares during the quarter. Amalgamated Bank’s holdings in United States Steel were worth $3,769,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in X. Massachusetts Financial Services Co. MA increased its stake in United States Steel by 4,305.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company’s stock worth $137,379,000 after acquiring an additional 3,551,870 shares during the period. KGH Ltd grew 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 worth $160,839,000 after purchasing an additional 1,724,670 shares in the last quarter. Murchinson Ltd. increased its position in shares of United States Steel by 66.5% in the first quarter. Murchinson Ltd. now owns 2,100,000 shares of the basic materials company’s stock worth $85,638,000 after purchasing an additional 838,653 shares during the period. Forest Avenue Capital Management LP acquired a new position in United States Steel in the second quarter valued at about $22,770,000. Finally, International Assets Investment Management LLC lifted its position in United States Steel by 4,445.5% during the third quarter. International Assets Investment Management LLC now owns 571,326 shares of the basic materials company’s stock worth $20,185,000 after purchasing an additional 558,757 shares during the period. 81.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on X shares. BMO Capital Markets dropped their target price on shares of United States Steel from $45.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Jefferies Financial Group reduced their price objective on United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. BNP Paribas raised United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Friday, September 6th. Morgan Stanley raised their price target on shares of United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Finally, StockNews.com initiated coverage on shares of United States Steel in a research report on Monday, August 19th. They set a “hold” rating for the company. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.80.

United States Steel Stock Performance

NYSE:X opened at $41.25 on Friday. The stock’s 50-day moving average is $36.79 and its 200-day moving average is $37.76. United States Steel Co. has a 1-year low of $26.92 and a 1-year high of $50.20. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35. The stock has a market cap of $9.29 billion, a P/E ratio of 27.13 and a beta of 1.86.

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. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.77 billion. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The company’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.36 EPS. Equities research analysts anticipate that United States Steel Co. will post 2.17 earnings per share for the current year.

United States Steel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 11th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.48%. The ex-dividend date is Friday, November 8th. United States Steel’s dividend payout ratio is currently 13.16%.

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.