Rhumbline Advisers Has $23.76 Million Stock Holdings in United States Steel Co. (NYSE:X)

Rhumbline Advisers cut its holdings in United States Steel Co. (NYSE:X) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 628,662 shares of the basic materials company’s stock after selling 3,308 shares during the period. Rhumbline Advisers owned approximately 0.28% of United States Steel worth $23,763,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of X. Rothschild Investment LLC bought a new stake in United States Steel during the second quarter valued at about $26,000. Riverview Trust Co bought a new stake in United States Steel during the first quarter valued at about $29,000. Pineridge Advisors LLC bought a new stake in United States Steel during the fourth quarter valued at about $44,000. Newbridge Financial Services Group Inc. bought a new stake in United States Steel during the first quarter valued at about $41,000. Finally, Blue Trust Inc. boosted its holdings in United States Steel by 339.0% during the second quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 773 shares during the period. 81.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

X has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. cut their price objective on shares of United States Steel from $43.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Jefferies Financial Group cut their price objective on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday. BMO Capital Markets raised shares of United States Steel from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $43.00 to $45.00 in a research report on Wednesday, June 26th. Finally, StockNews.com began coverage on shares of United States Steel in a research report on Monday, August 19th. They set a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $39.67.

United States Steel Stock Performance

NYSE:X opened at $31.27 on Friday. United States Steel Co. has a 12-month low of $26.92 and a 12-month high of $50.20. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $7.03 billion, a PE ratio of 9.17 and a beta of 1.88. The firm has a 50-day moving average price of $38.75 and a 200 day moving average price of $39.46.

United States Steel (NYSE:X) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.12. The company had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.01 billion. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The company’s revenue was down 17.8% on a year-over-year basis. During the same quarter last year, the business posted $1.92 earnings per share. Research analysts anticipate that United States Steel Co. will post 2.19 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Monday, August 12th. United States Steel’s payout ratio is 5.87%.

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.