Victory Capital Management Inc. Sells 503,269 Shares of United States Steel Co. (NYSE:X)

Victory Capital Management Inc. cut its stake in United States Steel Co. (NYSE:X) by 92.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 43,116 shares of the basic materials company’s stock after selling 503,269 shares during the quarter. Victory Capital Management Inc.’s holdings in United States Steel were worth $1,523,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of X. Vanguard Personalized Indexing Management LLC boosted its position in shares of United States Steel by 0.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,880 shares of the basic materials company’s stock worth $1,016,000 after acquiring an additional 241 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in shares of United States Steel by 9.2% in the 3rd quarter. Rakuten Securities Inc. now owns 3,328 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 279 shares in the last quarter. Founders Capital Management increased its stake in shares of United States Steel by 9.4% in the 3rd quarter. Founders Capital Management now owns 3,500 shares of the basic materials company’s stock valued at $124,000 after purchasing an additional 300 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in shares of United States Steel by 1.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 18,635 shares of the basic materials company’s stock worth $658,000 after buying an additional 306 shares in the last quarter. Finally, Diversified Trust Co lifted its position in shares of United States Steel by 4.1% during the 2nd quarter. Diversified Trust Co now owns 8,715 shares of the basic materials company’s stock worth $329,000 after buying an additional 342 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

United States Steel Price Performance

X stock opened at $38.61 on Tuesday. The company has a market capitalization of $8.69 billion, a P/E ratio of 25.40 and a beta of 1.86. The company has a fifty day moving average price of $37.89 and a 200-day moving average price of $37.85. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.08 and a current ratio of 1.67. United States Steel Co. has a 52-week low of $26.92 and a 52-week high of $50.20.

United States Steel (NYSE:X) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.15. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the company earned $1.36 EPS. United States Steel’s revenue for the quarter was down 13.0% compared to the same quarter last year. As a group, equities analysts expect that United States Steel Co. will post 2.21 EPS for the current year.

United States Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 11th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, November 8th. United States Steel’s dividend payout ratio is currently 13.16%.

Analysts Set New Price Targets

A number of research analysts have issued reports on X shares. Jefferies Financial Group decreased their target price on United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. BNP Paribas raised shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Friday, September 6th. Glj Research upgraded shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price on the stock in a research report on Monday, September 9th. StockNews.com began coverage on shares of United States Steel in a research note on Monday, August 19th. They set a “hold” rating on the stock. Finally, Morgan Stanley increased their price target on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, United States Steel has a consensus rating of “Moderate Buy” and an average target price of $42.80.

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.