United States Steel Co. (NYSE:X) Shares Sold by Alpine Associates Management Inc.

Alpine Associates Management Inc. decreased its position in United States Steel Co. (NYSE:X) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,527,534 shares of the basic materials company’s stock after selling 140,398 shares during the quarter. United States Steel comprises approximately 4.1% of Alpine Associates Management Inc.’s holdings, making the stock its 8th largest position. Alpine Associates Management Inc.’s holdings in United States Steel were worth $89,298,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Quest Partners LLC lifted its holdings in shares of United States Steel by 103.4% in the third quarter. Quest Partners LLC now owns 27,248 shares of the basic materials company’s stock valued at $963,000 after buying an additional 13,849 shares during the period. Gladius Capital Management LP purchased a new stake in shares of United States Steel during the third quarter valued at $39,000. Natixis Advisors LLC lifted its holdings in shares of United States Steel by 4.9% during the third quarter. Natixis Advisors LLC now owns 31,284 shares of the basic materials company’s stock valued at $1,105,000 after purchasing an additional 1,455 shares during the last quarter. Towerview LLC lifted its holdings in shares of United States Steel by 18.2% during the third quarter. Towerview LLC now owns 65,000 shares of the basic materials company’s stock valued at $2,296,000 after purchasing an additional 10,000 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of United States Steel by 12.0% during the third quarter. KBC Group NV now owns 5,580 shares of the basic materials company’s stock valued at $197,000 after purchasing an additional 596 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

United States Steel Stock Performance

Shares of X stock opened at $38.89 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.67 and a quick ratio of 1.08. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week high of $50.20. The stock’s 50-day moving average is $37.41 and its two-hundred day moving average is $37.81. The firm has a market cap of $8.76 billion, a P/E ratio of 25.59 and a beta of 1.86.

United States Steel (NYSE:X) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.15. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the firm posted $1.36 EPS. The business’s revenue was down 13.0% compared to the same quarter last year. Analysts predict that United States Steel Co. will post 2.21 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.51%. The ex-dividend date is Friday, November 8th. United States Steel’s payout ratio is currently 13.16%.

Analyst Ratings Changes

X has been the subject of several analyst reports. 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 report on Friday, September 6th. JPMorgan Chase & Co. raised 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 for the company in a report on Thursday, September 5th. BMO Capital Markets dropped their price target on United States Steel from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Morgan Stanley upped their price target on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.80.

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.