Phoenix Financial Ltd. Sells 1,048 Shares of United States Steel Co. (NYSE:X)

Phoenix Financial Ltd. lowered its holdings in United States Steel Co. (NYSE:X) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,821 shares of the basic materials company’s stock after selling 1,048 shares during the quarter. Phoenix Financial Ltd.’s holdings in United States Steel were worth $334,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake in United States Steel by 64.0% during the fourth quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 277 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of United States Steel by 4.8% in the 3rd quarter. Captrust Financial Advisors now owns 7,012 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 321 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of United States Steel by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 6,880 shares of the basic materials company’s stock worth $234,000 after purchasing an additional 366 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in United States Steel by 0.8% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,730 shares of the basic materials company’s stock valued at $1,690,000 after purchasing an additional 412 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in United States Steel by 50.0% in the fourth quarter. GAMMA Investing LLC now owns 1,326 shares of the basic materials company’s stock valued at $45,000 after buying an additional 442 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

United States Steel Price Performance

Shares of X stock opened at $40.10 on Friday. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 1.53 and a beta of 1.79. United States Steel Co. has a 12 month low of $26.92 and a 12 month high of $46.18. 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 stock has a 50-day moving average price of $39.85 and a 200 day moving average price of $37.64.

United States Steel (NYSE:X) last issued its earnings results 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%. Research analysts expect that United States Steel Co. will post 1.43 EPS for the current year.

United States Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, February 10th. United States Steel’s payout ratio is 13.42%.

Analysts Set New Price Targets

Several analysts have recently weighed in on X shares. Jefferies Financial Group dropped 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 report on Monday, January 6th. Morgan Stanley raised their price target on United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday, March 7th. Bank of America assumed coverage on United States Steel in a research note on Monday, January 6th. They issued a “neutral” rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $45.00 price objective on shares of United States Steel in a report on Monday, March 31st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $40.65.

About United States Steel

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.