State of New Jersey Common Pension Fund D Sells 37,198 Shares of United States Steel Co. (NYSE:X)

State of New Jersey Common Pension Fund D cut its position in United States Steel Co. (NYSE:X) by 29.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,254 shares of the basic materials company’s stock after selling 37,198 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in United States Steel were worth $3,374,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Rothschild Investment LLC acquired a new stake in United States Steel during the 2nd quarter valued at $26,000. Riverview Trust Co acquired a new stake in United States Steel during the 1st quarter valued at $29,000. Newbridge Financial Services Group Inc. acquired a new stake in United States Steel during the 1st quarter valued at $41,000. Blue Trust Inc. lifted its holdings in United States Steel by 339.0% during the 2nd quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 773 shares during the last quarter. Finally, Pineridge Advisors LLC acquired a new stake in United States Steel during the 4th quarter valued at $44,000. 81.92% of the stock is owned by institutional investors.

United States Steel Price Performance

Shares of X opened at $36.21 on Wednesday. United States Steel Co. has a 52-week low of $26.92 and a 52-week high of $50.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.72. The business’s 50 day moving average price is $38.14 and its two-hundred day moving average price is $38.78. The firm has a market cap of $8.14 billion, a PE ratio of 10.62 and a beta of 1.88.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.12. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the firm earned $1.92 earnings per share. The company’s revenue was down 17.8% compared to the same quarter last year. On average, equities analysts anticipate that United States Steel Co. will post 2.15 EPS for the current year.

United States Steel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 12th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Monday, August 12th. United States Steel’s dividend payout ratio (DPR) is presently 5.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on X shares. Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price for the company in a report on Monday, September 9th. Jefferies Financial Group dropped their price target on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. upgraded United States Steel from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $40.00 to $42.00 in a research report on Monday, September 9th. BMO Capital Markets upgraded United States Steel from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $43.00 to $45.00 in a research report on Wednesday, June 26th. Finally, BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Friday, September 6th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.76.

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.