Retirement Systems of Alabama Acquires 950 Shares of United States Steel Co. (NYSE:X)

Retirement Systems of Alabama grew its holdings in shares of United States Steel Co. (NYSE:X) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 279,345 shares of the basic materials company’s stock after acquiring an additional 950 shares during the period. Retirement Systems of Alabama owned about 0.13% of United States Steel worth $13,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Third Point LLC bought a new position in United States Steel in the 3rd quarter worth $154,280,000. KGH Ltd boosted its holdings in shares of United States Steel by 7.5% during the 3rd quarter. KGH Ltd now owns 4,488,769 shares of the basic materials company’s stock valued at $145,795,000 after purchasing an additional 315,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of United States Steel by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,404,657 shares of the basic materials company’s stock valued at $78,103,000 after buying an additional 67,824 shares in the last quarter. Laurion Capital Management LP purchased a new stake in shares of United States Steel during the 3rd quarter valued at about $50,912,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of United States Steel by 1.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,258,118 shares of the basic materials company’s stock valued at $61,207,000 after buying an additional 14,440 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.

United States Steel Stock Performance

United States Steel stock opened at $36.98 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.76 and a quick ratio of 1.22. United States Steel Co. has a 1-year low of $20.40 and a 1-year high of $50.20. The firm has a market capitalization of $8.31 billion, a P/E ratio of 10.54 and a beta of 2.06. The company’s 50-day moving average is $41.89 and its 200 day moving average is $41.46.

United States Steel (NYSE:X) last issued its earnings results on Friday, February 2nd. The basic materials company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.46. The business had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.73 billion. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 EPS. Research analysts forecast that United States Steel Co. will post 2.99 EPS for the current year.

Wall Street Analyst Weigh In

X has been the topic of several recent research reports. Wolfe Research upgraded shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a research report on Tuesday, April 9th. JPMorgan Chase & Co. initiated coverage on shares of United States Steel in a research report on Friday, January 12th. They set a “neutral” rating and a $52.00 target price on the stock. Morgan Stanley cut shares of United States Steel from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $40.00 to $51.00 in a research report on Thursday, February 15th. StockNews.com initiated coverage on shares of United States Steel in a research report on Monday. They set a “hold” rating on the stock. Finally, BMO Capital Markets reduced their price objective on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 19th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, United States Steel currently has a consensus rating of “Hold” and a consensus target price of $37.89.

United States Steel Company 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.