Alaska Permanent Fund Corp Sells 17,384 Shares of United States Steel Co. (NYSE:X)

Alaska Permanent Fund Corp reduced its stake in shares of United States Steel Co. (NYSE:X) by 16.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 86,916 shares of the basic materials company’s stock after selling 17,384 shares during the period. Alaska Permanent Fund Corp’s holdings in United States Steel were worth $4,228,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in X. Wolff Wiese Magana LLC lifted its stake in United States Steel by 181.4% in the third quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 635 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of United States Steel during the fourth quarter valued at about $33,000. Fifth Third Bancorp raised its stake in shares of United States Steel by 60.8% during the third quarter. Fifth Third Bancorp now owns 1,270 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 480 shares during the last quarter. Rakuten Securities Inc. bought a new position in shares of United States Steel during the fourth quarter valued at about $53,000. Finally, Trust Co. of Vermont bought a new position in shares of United States Steel during the third quarter valued at about $65,000. 81.92% of the stock is owned by institutional investors.

United States Steel Price Performance

Shares of NYSE X traded down $1.34 during midday trading on Wednesday, reaching $36.60. The stock had a trading volume of 5,403,164 shares, compared to its average volume of 4,691,360. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 10.44 and a beta of 2.00. The stock has a 50-day moving average of $42.96 and a 200-day moving average of $41.37. United States Steel Co. has a 12-month low of $20.40 and a 12-month high of $50.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.22 and a current ratio of 1.76.

United States Steel (NYSE:X) last posted its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.21 by $0.46. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the previous year, the business posted $0.87 EPS. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. As a group, research analysts anticipate that United States Steel Co. will post 2.99 EPS for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 12th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.55%. The ex-dividend date was Friday, February 9th. United States Steel’s payout ratio is 5.70%.

Analyst Ratings Changes

Several equities analysts recently issued reports on X shares. Wolfe Research upgraded shares of 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 report on Tuesday, April 9th. Morgan Stanley cut shares of United States Steel from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $40.00 to $51.00 in a report on Thursday, February 15th. StockNews.com started coverage on shares of United States Steel in a report on Sunday. They issued a “hold” rating on the stock. BMO Capital Markets cut their price objective on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. started coverage on shares of United States Steel in a report on Friday, January 12th. They issued a “neutral” rating and a $52.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, United States Steel currently has a consensus rating of “Hold” and an average target price of $37.89.

United States Steel 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.