Assetmark Inc. Trims Stock Position in United States Steel Co. (NYSE:X)

Assetmark Inc. reduced its stake in shares of United States Steel Co. (NYSE:X) by 13.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,756 shares of the basic materials company’s stock after selling 265 shares during the quarter. Assetmark Inc.’s holdings in United States Steel were worth $62,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Water Island Capital LLC increased its holdings in shares of United States Steel by 5.3% in the 2nd quarter. Water Island Capital LLC now owns 906,092 shares of the basic materials company’s stock valued at $34,250,000 after acquiring an additional 45,567 shares during the period. KGH Ltd increased its stake in United States Steel by 68.2% in the second quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock valued at $160,839,000 after purchasing an additional 1,724,670 shares during the period. Janus Henderson Group PLC raised its holdings in shares of United States Steel by 94.3% in the first quarter. Janus Henderson Group PLC now owns 211,043 shares of the basic materials company’s stock valued at $8,601,000 after buying an additional 102,450 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of United States Steel by 146.4% during the first quarter. Gamco Investors INC. ET AL now owns 26,000 shares of the basic materials company’s stock worth $1,060,000 after buying an additional 15,450 shares during the period. Finally, CWM LLC grew its holdings in shares of United States Steel by 54.5% during the second quarter. CWM LLC now owns 3,856 shares of the basic materials company’s stock worth $146,000 after buying an additional 1,360 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on X. StockNews.com initiated coverage on shares of United States Steel in a research report on Monday, August 19th. They set a “hold” rating for the company. Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price target for the company in a research note on Monday, September 9th. Jefferies Financial Group dropped their price objective on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. BMO Capital Markets reduced their price target on United States Steel from $45.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, BNP Paribas raised United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Friday, September 6th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, United States Steel has a consensus rating of “Moderate Buy” and a consensus target price of $42.80.

United States Steel Stock Up 6.1 %

Shares of NYSE:X opened at $38.01 on Tuesday. United States Steel Co. has a 1 year low of $26.92 and a 1 year high of $50.20. The stock has a 50-day simple moving average of $37.31 and a 200-day simple moving average of $37.80. The stock has a market capitalization of $8.56 billion, a P/E ratio of 23.57 and a beta of 1.86. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.08 and a current ratio of 1.67.

United States Steel (NYSE:X) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the firm earned $1.36 earnings per share. The company’s revenue for the quarter was down 13.0% compared to the same quarter last year. Equities analysts forecast that United States Steel Co. will post 2.21 earnings per share for the current year.

United States Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. United States Steel’s payout ratio is currently 13.16%.

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.