SeaCrest Wealth Management LLC Sells 931 Shares of United States Steel Co. (NYSE:X)

SeaCrest Wealth Management LLC reduced its stake in shares of United States Steel Co. (NYSE:X) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,125 shares of the basic materials company’s stock after selling 931 shares during the period. SeaCrest Wealth Management LLC’s holdings in United States Steel were worth $1,070,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Wolff Wiese Magana LLC boosted its holdings in shares of United States Steel by 181.4% during the 3rd quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company’s stock worth $32,000 after buying an additional 635 shares during the period. ICA Group Wealth Management LLC bought a new stake in United States Steel during the 4th quarter valued at approximately $28,000. Fifth Third Bancorp increased its position in United States Steel by 60.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,270 shares of the basic materials company’s stock worth $41,000 after buying an additional 480 shares during the period. Dark Forest Capital Management LP acquired a new position in shares of United States Steel during the first quarter worth approximately $48,000. Finally, Belpointe Asset Management LLC boosted its position in shares of United States Steel by 71.7% in the first quarter. Belpointe Asset Management LLC now owns 1,962 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 819 shares during the period. Institutional investors and hedge funds own 81.92% of the company’s stock.

United States Steel Price Performance

Shares of NYSE X traded down $0.24 during mid-day trading on Friday, hitting $40.78. 2,508,645 shares of the stock were exchanged, compared to its average volume of 6,402,978. The company has a market cap of $9.17 billion, a P/E ratio of 11.61 and a beta of 2.02. United States Steel Co. has a twelve month low of $20.40 and a twelve month high of $50.20. The stock’s fifty day simple moving average is $45.26 and its two-hundred day simple moving average is $40.12. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.22 and a current ratio of 1.76.

United States Steel (NYSE:X) last released its quarterly earnings results on Friday, February 2nd. The basic materials company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.21 by $0.46. The business had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $3.73 billion. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. United States Steel’s revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 earnings per share. As a group, analysts forecast that United States Steel Co. will post 3.23 EPS for the current fiscal year.

United States Steel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 12th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Friday, February 9th. United States Steel’s dividend payout ratio (DPR) is 5.70%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on X shares. StockNews.com initiated coverage on shares of United States Steel in a research report on Thursday. They set a “hold” rating on the stock. BMO Capital Markets decreased their target price on 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. JPMorgan Chase & Co. began coverage on United States Steel in a research report on Friday, January 12th. They issued a “neutral” rating and a $52.00 price objective for the company. Finally, Morgan Stanley downgraded shares of United States Steel from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $40.00 to $51.00 in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to MarketBeat.com, United States Steel currently has an average rating of “Hold” and an average price target of $34.89.

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.