First Trust Advisors LP Has $13.85 Million Stock Holdings in United States Steel Co. (NYSE:X)

First Trust Advisors LP trimmed its stake in shares of United States Steel Co. (NYSE:X) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 407,579 shares of the basic materials company’s stock after selling 3,491 shares during the quarter. First Trust Advisors LP’s holdings in United States Steel were worth $13,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. grew its holdings in 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 acquiring an additional 277 shares during the period. Ameliora Wealth Management Ltd. bought a new stake in shares of United States Steel during the 4th quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new stake in United States Steel during the fourth quarter worth approximately $30,000. Parkworth Wealth Management Inc. acquired a new stake in United States Steel during the fourth quarter worth approximately $31,000. Finally, Lee Danner & Bass Inc. acquired a new position in United States Steel in the fourth quarter valued at approximately $32,000. 81.92% of the stock is owned by institutional investors and hedge funds.

United States Steel Price Performance

X stock opened at $42.65 on Monday. The company has a market capitalization of $9.66 billion, a P/E ratio of 28.62, a price-to-earnings-growth ratio of 1.53 and a beta of 1.79. United States Steel Co. has a 52-week low of $26.92 and a 52-week high of $46.18. The business has a 50-day simple moving average of $40.43 and a two-hundred day simple moving average of $38.07. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55.

United States Steel (NYSE:X) last announced its quarterly 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 return on equity of 4.27% and a net margin of 2.46%. Research analysts expect that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, February 10th. United States Steel’s payout ratio is currently 13.42%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday, March 7th. Jefferies Financial Group reduced their price target on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $38.00 price target (down from $43.00) on shares of United States Steel in a research note on Wednesday, April 16th. Bank of America started coverage on shares of 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. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $45.00 target price on shares of United States Steel in a research report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.94.

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.