American International Group Inc. Has $14.66 Million Stake in United States Steel Co. (NYSE:X)

American International Group Inc. reduced its holdings in United States Steel Co. (NYSE:X) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 301,262 shares of the basic materials company’s stock after selling 12,859 shares during the quarter. American International Group Inc. owned about 0.13% of United States Steel worth $14,656,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Third Point LLC increased its holdings in shares of United States Steel by 15.8% during the 4th quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock worth $267,575,000 after purchasing an additional 750,000 shares during the period. Donald Smith & CO. Inc. raised its holdings in United States Steel by 11.0% in the 4th quarter. Donald Smith & CO. Inc. now owns 4,513,531 shares of the basic materials company’s stock valued at $219,583,000 after acquiring an additional 447,186 shares in the last quarter. KGH Ltd lifted its position in shares of United States Steel by 7.5% in the 3rd quarter. KGH Ltd now owns 4,488,769 shares of the basic materials company’s stock worth $145,795,000 after acquiring an additional 315,000 shares during the period. Norges Bank acquired a new stake in shares of United States Steel during the 4th quarter worth approximately $200,952,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of United States Steel by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,498,737 shares of the basic materials company’s stock valued at $121,564,000 after purchasing an additional 94,080 shares during the period. 81.92% of the stock is currently owned by institutional investors.

United States Steel Trading Down 0.8 %

Shares of NYSE:X traded down $0.30 during midday trading on Friday, hitting $36.46. The company had a trading volume of 2,856,896 shares, compared to its average volume of 2,683,219. The firm has a fifty day simple moving average of $38.03 and a 200 day simple moving average of $42.27. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 10.69 and a beta of 1.99. The company has a current ratio of 1.71, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. United States Steel Co. has a 12 month low of $22.26 and a 12 month high of $50.20.

United States Steel (NYSE:X) last released its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.22 billion. On average, analysts predict that United States Steel Co. will post 2.72 EPS for the current year.

United States Steel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Monday, May 13th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, May 10th. United States Steel’s dividend payout ratio is 5.87%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on X. BMO Capital Markets decreased their target price on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 19th. Morgan Stanley raised United States Steel from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $51.00 to $48.00 in a report on Monday, May 6th. Wolfe Research raised United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a research note on Tuesday, April 9th. JPMorgan Chase & Co. dropped their price objective on United States Steel from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Finally, Jefferies Financial Group assumed coverage on United States Steel in a report on Monday, May 20th. They set a “buy” rating and a $45.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, United States Steel presently has a consensus rating of “Hold” and an average price target of $38.78.

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.