PNC Financial Services Group Inc. Trims Stock Holdings in United States Steel Co. (NYSE:X)

PNC Financial Services Group Inc. trimmed its holdings in United States Steel Co. (NYSE:X) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,260 shares of the basic materials company’s stock after selling 709 shares during the period. PNC Financial Services Group Inc.’s holdings in United States Steel were worth $499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of United States Steel during the 4th quarter valued at $25,000. GAMMA Investing LLC purchased a new position in shares of United States Steel during the 4th quarter valued at $33,000. Pineridge Advisors LLC purchased a new position in shares of United States Steel during the 4th quarter valued at $44,000. Scarborough Advisors LLC purchased a new position in shares of United States Steel during the 4th quarter valued at $49,000. Finally, Rakuten Securities Inc. purchased a new position in shares of United States Steel during the 4th quarter valued at $53,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on X. BMO Capital Markets upgraded shares of United States Steel from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $43.00 to $45.00 in a research report on Wednesday. StockNews.com started coverage on United States Steel in a research note on Monday. They set a “hold” rating for the company. JPMorgan Chase & Co. reduced their price objective 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. Jefferies Financial Group began coverage on United States Steel in a research report on Monday, May 20th. They issued a “buy” rating and a $45.00 target price for the company. Finally, 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. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.78.

United States Steel Price Performance

Shares of NYSE:X opened at $36.80 on Friday. The stock has a market cap of $8.27 billion, a PE ratio of 10.79 and a beta of 1.99. The company’s fifty day moving average is $37.28 and its 200 day moving average is $42.27. United States Steel Co. has a 52 week low of $22.26 and a 52 week high of $50.20. 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 earnings results on Thursday, May 2nd. The basic materials company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. The company had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Research analysts anticipate that United States Steel Co. will post 2.69 earnings per share for the current year.

United States Steel Dividend Announcement

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

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.