Vestcor Inc Reduces Position in United States Steel Co. (NYSE:X)

Vestcor Inc cut its holdings in shares of United States Steel Co. (NYSE:X) by 89.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,503 shares of the basic materials company’s stock after selling 44,497 shares during the period. Vestcor Inc’s holdings in United States Steel were worth $187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameliora Wealth Management Ltd. acquired a new position in United States Steel during the fourth quarter valued at $27,000. ORG Wealth Partners LLC acquired a new position in United States Steel during the fourth quarter valued at $30,000. Parkworth Wealth Management Inc. acquired a new position in shares of United States Steel in the fourth quarter worth about $31,000. Newbridge Financial Services Group Inc. acquired a new position in shares of United States Steel in the fourth quarter worth about $34,000. Finally, Smithfield Trust Co raised its position in shares of United States Steel by 903.0% in the fourth quarter. Smithfield Trust Co now owns 1,003 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 903 shares during the period. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

X has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of United States Steel from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Jefferies Financial Group decreased their price objective on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Morgan Stanley upped their price objective on shares of United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday, March 7th. BMO Capital Markets decreased their price objective on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Finally, Bank of America initiated coverage on shares of United States Steel in a research note on Monday, January 6th. They set a “neutral” rating and a $35.00 target price for the company. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, United States Steel has an average rating of “Moderate Buy” and a consensus target price of $40.70.

United States Steel Stock Up 4.0 %

X stock opened at $41.71 on Wednesday. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $43.35. The stock has a market capitalization of $9.39 billion, a P/E ratio of 28.00, a P/E/G ratio of 1.53 and a beta of 1.86. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. The firm has a 50-day simple moving average of $37.40 and a 200-day simple moving average of $36.68.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. Equities analysts forecast that United States Steel Co. will post 1.43 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.20 annualized dividend and a yield of 0.48%. United States Steel’s dividend payout ratio is presently 13.42%.

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.