Alaska Permanent Fund Corp Sells 40,411 Shares of United States Steel Co. (NYSE:X)

Alaska Permanent Fund Corp reduced its stake in United States Steel Co. (NYSE:X) by 46.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,505 shares of the basic materials company’s stock after selling 40,411 shares during the period. Alaska Permanent Fund Corp’s holdings in United States Steel were worth $1,896,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Third Point LLC raised its stake in shares of United States Steel by 15.8% in the 4th quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock valued at $267,575,000 after purchasing an additional 750,000 shares during the period. Donald Smith & CO. Inc. increased its position in shares of United States Steel by 11.0% in the fourth quarter. Donald Smith & CO. Inc. now owns 4,513,531 shares of the basic materials company’s stock valued at $219,583,000 after acquiring an additional 447,186 shares during the last quarter. KGH Ltd increased its position in shares of United States Steel by 7.5% in the third quarter. KGH Ltd now owns 4,488,769 shares of the basic materials company’s stock valued at $145,795,000 after acquiring an additional 315,000 shares during the last quarter. Norges Bank acquired a new stake in shares of United States Steel in the fourth quarter valued at about $200,952,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of United States Steel by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,498,737 shares of the basic materials company’s stock valued at $121,564,000 after acquiring an additional 94,080 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

United States Steel Trading Down 0.1 %

Shares of NYSE:X opened at $37.02 on Friday. United States Steel Co. has a 12-month low of $22.26 and a 12-month high of $50.20. The stock has a market cap of $8.32 billion, a PE ratio of 10.86 and a beta of 1.99. The business has a 50 day moving average of $37.64 and a 200-day moving average of $42.26. The company has a quick ratio of 1.14, a current ratio of 1.71 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last issued its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. United States Steel had a return on equity of 10.61% and a net margin of 4.89%. The company had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.22 billion. As a group, equities research analysts forecast that United States Steel Co. will post 2.72 earnings per share for the current year.

United States Steel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Monday, May 13th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. United States Steel’s payout ratio is 5.87%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on United States Steel in a research report on Monday, May 20th. They issued a “buy” rating and a $45.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Morgan Stanley raised United States Steel from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $51.00 to $48.00 in a research report on Monday, May 6th. Wolfe Research upgraded United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target for the company in a report on Tuesday, April 9th. Finally, StockNews.com initiated coverage on United States Steel in a report on Sunday, June 16th. They set a “hold” rating for the company. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, United States Steel presently has an average rating of “Hold” and a consensus target price of $38.78.

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.