Intech Investment Management LLC Sells 16,085 Shares of United States Steel Co. (NYSE:X)

Intech Investment Management LLC trimmed its position in United States Steel Co. (NYSE:X) by 20.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,067 shares of the basic materials company’s stock after selling 16,085 shares during the period. Intech Investment Management LLC’s holdings in United States Steel were worth $2,228,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC lifted its stake in shares of United States Steel by 41.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 6,589 shares of the basic materials company’s stock valued at $269,000 after buying an additional 1,921 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in United States Steel by 1.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 136,016 shares of the basic materials company’s stock valued at $5,545,000 after acquiring an additional 2,544 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in United States Steel by 146.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 26,000 shares of the basic materials company’s stock worth $1,060,000 after purchasing an additional 15,450 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of 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 worth $8,601,000 after purchasing an additional 102,450 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of United States Steel by 60.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 73,240 shares of the basic materials company’s stock valued at $2,987,000 after purchasing an additional 27,494 shares in the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

X has been the subject of a number of analyst reports. BMO Capital Markets lowered their price target on 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. JPMorgan Chase & Co. upgraded shares of United States Steel from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $40.00 to $42.00 in a report on Monday, September 9th. StockNews.com assumed coverage on shares of United States Steel in a research note on Monday, August 19th. They issued a “hold” rating for the company. Glj Research upgraded United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price on the stock in a research note on Monday, September 9th. Finally, Morgan Stanley increased 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 research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.80.

United States Steel Price Performance

Shares of NYSE X opened at $39.03 on Monday. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of 25.68 and a beta of 1.86. The stock has a fifty day simple moving average of $37.84 and a two-hundred day simple moving average of $37.85. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35. United States Steel Co. has a 1-year low of $26.92 and a 1-year high of $50.20.

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

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 11th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Friday, November 8th. United States Steel’s dividend payout ratio (DPR) is presently 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.