United States Steel Co. (NYSE:X) Shares Sold by Belpointe Asset Management LLC

Belpointe Asset Management LLC lowered its stake in shares of United States Steel Co. (NYSE:X) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,116 shares of the basic materials company’s stock after selling 385 shares during the period. Belpointe Asset Management LLC’s holdings in United States Steel were worth $208,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its stake in shares of United States Steel by 64.0% during the 4th quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 277 shares during the period. Ameliora Wealth Management Ltd. acquired a new position in United States Steel in the fourth quarter valued at $27,000. ORG Wealth Partners LLC purchased a new position in United States Steel during the fourth quarter worth about $30,000. Parkworth Wealth Management Inc. acquired a new stake in United States Steel in the 4th quarter worth about $31,000. Finally, Lee Danner & Bass Inc. purchased a new stake in United States Steel in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on X shares. Jefferies Financial Group cut their price objective on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley lifted their price target on shares of United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday, March 7th. BMO Capital Markets restated a “market perform” rating and set a $45.00 price objective on shares of United States Steel in a report on Monday, March 31st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $38.00 target price (down previously from $43.00) on shares of United States Steel in a report on Wednesday. Finally, Bank of America assumed coverage on United States Steel in a research note on Monday, January 6th. They set a “neutral” rating and a $35.00 price target for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, United States Steel presently has a consensus rating of “Hold” and an average target price of $39.94.

United States Steel Stock Down 0.7 %

Shares of NYSE X opened at $41.54 on Friday. The stock has a fifty day moving average price of $40.10 and a 200 day moving average price of $37.78. The company has a current ratio of 1.55, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. United States Steel Co. has a 12-month low of $26.92 and a 12-month high of $46.18. The company has a market cap of $9.40 billion, a P/E ratio of 27.88, a P/E/G ratio of 1.53 and a beta of 1.79.

United States Steel (NYSE:X) last posted its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. Research analysts anticipate that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.48%. United States Steel’s dividend payout ratio is currently 13.42%.

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.