California Public Employees Retirement System Reduces Stake in United States Steel Corporation (X)

California Public Employees Retirement System lowered its position in United States Steel Corporation (NYSE:X) by 23.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 494,300 shares of the basic materials company’s stock after selling 153,300 shares during the period. California Public Employees Retirement System owned 0.28% of United States Steel Corporation worth $16,712,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of X. Northwestern Mutual Investment Management Company LLC raised its position in United States Steel Corporation by 1.1% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 30,036 shares of the basic materials company’s stock worth $1,016,000 after buying an additional 315 shares during the period. World Asset Management Inc raised its position in United States Steel Corporation by 2.6% in the first quarter. World Asset Management Inc now owns 13,485 shares of the basic materials company’s stock worth $456,000 after buying an additional 342 shares during the period. Texas Permanent School Fund raised its position in United States Steel Corporation by 0.3% in the first quarter. Texas Permanent School Fund now owns 126,189 shares of the basic materials company’s stock worth $4,266,000 after buying an additional 407 shares during the period. Arizona State Retirement System raised its position in United States Steel Corporation by 0.9% in the first quarter. Arizona State Retirement System now owns 72,500 shares of the basic materials company’s stock worth $2,451,000 after buying an additional 645 shares during the period. Finally, Federated Investors Inc. PA raised its position in United States Steel Corporation by 0.8% in the fourth quarter. Federated Investors Inc. PA now owns 91,909 shares of the basic materials company’s stock worth $3,034,000 after buying an additional 686 shares during the period. Hedge funds and other institutional investors own 70.77% of the company’s stock.

Institutional Ownership by Quarter for United States Steel Corporation (NYSE:X)

United States Steel Corporation (NYSE:X) traded down 1.03% during mid-day trading on Friday, reaching $20.16. 15,679,541 shares of the company traded hands. The firm’s market capitalization is $3.52 billion. United States Steel Corporation has a 12-month low of $14.80 and a 12-month high of $41.83. The company’s 50 day moving average price is $20.74 and its 200 day moving average price is $31.06.

United States Steel Corporation (NYSE:X) last released its earnings results on Tuesday, April 25th. The basic materials company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by $1.18. United States Steel Corporation had a negative return on equity of 3.48% and a negative net margin of 2.63%. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter in the previous year, the business earned ($2.15) EPS. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. Equities research analysts predict that United States Steel Corporation will post $1.06 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Wednesday, May 10th were paid a $0.05 dividend. The ex-dividend date was Monday, May 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.99%. United States Steel Corporation’s payout ratio is -12.20%.

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X has been the subject of a number of analyst reports. Vetr upgraded shares of United States Steel Corporation from a “buy” rating to a “strong-buy” rating and set a $38.76 price objective for the company in a research report on Monday, March 27th. J P Morgan Chase & Co restated an “overweight” rating and issued a $46.00 price objective (up from $39.00) on shares of United States Steel Corporation in a research report on Wednesday, March 22nd. Deutsche Bank AG raised their price objective on shares of United States Steel Corporation from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, March 21st. Morgan Stanley restated a “buy” rating and issued a $34.00 price objective (down from $48.00) on shares of United States Steel Corporation in a research report on Monday, May 1st. Finally, Credit Suisse Group upgraded shares of United States Steel Corporation from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $13.68 to $30.00 in a research report on Wednesday, May 24th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $29.49.

In other United States Steel Corporation news, Director Paul Anthony Mascarenas bought 1,500 shares of United States Steel Corporation stock in a transaction on Thursday, May 18th. The shares were acquired at an average price of $19.31 per share, for a total transaction of $28,965.00. Following the completion of the purchase, the director now directly owns 12,377 shares in the company, valued at approximately $238,999.87. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen J. Girsky bought 2,500 shares of United States Steel Corporation stock in a transaction on Tuesday, May 16th. The stock was acquired at an average price of $19.94 per share, for a total transaction of $49,850.00. Following the purchase, the director now owns 21,872 shares of the company’s stock, valued at $436,127.68. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 14,000 shares of company stock worth $278,415. Insiders own 1.00% of the company’s stock.

United States Steel Corporation Company Profile

United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).

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