Alliancebernstein L.P. Sells 82,204 Shares of United States Steel Co. (NYSE:X)

Alliancebernstein L.P. reduced its stake in United States Steel Co. (NYSE:X) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 719,945 shares of the basic materials company’s stock after selling 82,204 shares during the period. Alliancebernstein L.P.’s holdings in United States Steel were worth $24,471,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in United States Steel in the fourth quarter valued at approximately $130,731,000. Turiya Advisors Asia Ltd bought a new stake in United States Steel during the fourth quarter worth about $19,384,000. E. Ohman J or Asset Management AB purchased a new position in shares of United States Steel in the 4th quarter worth about $17,907,000. ARS Investment Partners LLC bought a new position in shares of United States Steel during the 4th quarter valued at about $15,510,000. Finally, Vanguard Group Inc. lifted its position in United States Steel by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 20,558,732 shares of the basic materials company’s stock worth $698,791,000 after buying an additional 186,994 shares during the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

United States Steel Stock Up 16.5 %

Shares of NYSE:X opened at $44.60 on Tuesday. The stock’s 50-day moving average is $39.08 and its 200 day moving average is $37.43. The company has a market cap of $10.10 billion, a PE ratio of 29.93, a P/E/G ratio of 1.53 and a beta of 1.79. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91. United States Steel Co. has a 1 year low of $26.92 and a 1 year high of $46.20.

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 the consensus estimate of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. Sell-side analysts anticipate that United States Steel Co. will post 1.43 EPS for the current year.

United States Steel Dividend Announcement

The business also recently announced 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, February 10th. United States Steel’s payout ratio is 13.42%.

Analyst Ratings Changes

Several research analysts have commented on X shares. Bank of America initiated coverage on shares of United States Steel in a research note on Monday, January 6th. They set a “neutral” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on shares of United States Steel from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Jefferies Financial Group reduced their price objective on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Morgan Stanley boosted their target price on United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a research note on Friday, March 7th. Finally, BMO Capital Markets restated a “market perform” rating and set a $45.00 price target on shares of United States Steel in a research report on Monday, March 31st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.32.

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.