ExodusPoint Capital Management LP Reduces Stake in United States Steel Co. (NYSE:X)

ExodusPoint Capital Management LP lessened its position in shares of United States Steel Co. (NYSE:X) by 48.7% in the fourth quarter, Holdings Channel reports. The fund owned 85,070 shares of the basic materials company’s stock after selling 80,737 shares during the quarter. ExodusPoint Capital Management LP’s holdings in United States Steel were worth $2,892,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Ameliora Wealth Management Ltd. purchased a new position in shares of United States Steel during the 4th quarter worth $27,000. ORG Wealth Partners LLC bought a new position in United States Steel in the 4th quarter worth $30,000. Parkworth Wealth Management Inc. purchased a new position in United States Steel during the fourth quarter valued at $31,000. Lee Danner & Bass Inc. bought a new stake in United States Steel during the fourth quarter valued at about $32,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in United States Steel in the fourth quarter worth about $34,000. Institutional investors own 81.92% of the company’s stock.

United States Steel Stock Up 16.5 %

Shares of X stock opened at $44.60 on Tuesday. The company’s fifty day simple moving average is $39.08 and its two-hundred day simple moving average is $37.43. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $46.20. The stock has a market cap of $10.10 billion, a P/E ratio of 29.93, a PEG ratio of 1.53 and a beta of 1.79. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.18) 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%. Analysts predict that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, February 10th. United States Steel’s dividend payout ratio is presently 13.42%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on X shares. Bank of America began coverage on United States Steel in a research report on Monday, January 6th. They set a “neutral” rating and a $35.00 price objective on the stock. BMO Capital Markets reiterated a “market perform” rating and issued a $45.00 price target on shares of United States Steel in a research report on Monday, March 31st. Jefferies Financial Group reduced their price objective on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley lifted their target price on shares of 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, JPMorgan Chase & Co. increased their price target on United States Steel from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.32.

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.