United States Steel Co. (NYSE:X) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its position in shares of United States Steel Co. (NYSE:X) by 4.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 15,468 shares of the basic materials company’s stock after selling 738 shares during the quarter. ProShare Advisors LLC’s holdings in United States Steel were worth $585,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC grew its position in shares of United States Steel by 28.7% during the fourth quarter. Parallel Advisors LLC now owns 1,363 shares of the basic materials company’s stock worth $66,000 after acquiring an additional 304 shares during the last quarter. Allianz Asset Management GmbH grew its position in United States Steel by 649.4% during the 4th quarter. Allianz Asset Management GmbH now owns 404,692 shares of the basic materials company’s stock worth $19,688,000 after purchasing an additional 350,692 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in United States Steel by 0.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 124,998 shares of the basic materials company’s stock valued at $6,081,000 after purchasing an additional 1,074 shares during the period. KBC Group NV purchased a new stake in shares of United States Steel in the fourth quarter valued at about $200,000. Finally, Carmignac Gestion acquired a new stake in shares of United States Steel during the fourth quarter worth about $1,649,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Jefferies Financial Group dropped their price target on United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. StockNews.com started coverage on United States Steel in a report on Monday, August 19th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. raised United States Steel from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $40.00 to $42.00 in a report on Monday, September 9th. Morgan Stanley lifted their price objective on shares of United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Finally, Glj Research upgraded shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective for the company in a research report on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.62.

United States Steel Price Performance

United States Steel stock opened at $35.62 on Monday. The company has a market cap of $8.01 billion, a P/E ratio of 10.45 and a beta of 1.88. United States Steel Co. has a one year low of $26.92 and a one year high of $50.20. The business has a fifty day moving average of $38.00 and a two-hundred day moving average of $38.29. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.72.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.72 by $0.12. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter last year, the business earned $1.92 earnings per share. The business’s revenue for the quarter was down 17.8% compared to the same quarter last year. As a group, analysts predict that United States Steel Co. will post 2.18 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 12th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Monday, August 12th. United States Steel’s dividend payout ratio is currently 5.87%.

About United States Steel

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.