Tokio Marine Asset Management Co. Ltd. Sells 98,200 Shares of United States Steel Co. (NYSE:X)

Tokio Marine Asset Management Co. Ltd. cut its holdings in shares of United States Steel Co. (NYSE:X) by 57.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 72,700 shares of the basic materials company’s stock after selling 98,200 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in United States Steel were worth $2,568,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of X. Donald Smith & CO. Inc. raised its holdings in United States Steel by 7.4% in the third quarter. Donald Smith & CO. Inc. now owns 4,719,845 shares of the basic materials company’s stock worth $166,752,000 after purchasing an additional 326,876 shares in the last quarter. KGH Ltd raised its stake in shares of United States Steel by 68.2% during the 2nd quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock worth $160,839,000 after acquiring an additional 1,724,670 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in United States Steel by 4,305.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company’s stock valued at $137,379,000 after acquiring an additional 3,551,870 shares during the last quarter. Alpine Associates Management Inc. boosted its stake in United States Steel by 13.5% in the second quarter. Alpine Associates Management Inc. now owns 2,667,932 shares of the basic materials company’s stock valued at $100,848,000 after acquiring an additional 316,800 shares in the last quarter. Finally, Murchinson Ltd. grew its holdings in United States Steel by 66.5% in the first quarter. Murchinson Ltd. now owns 2,100,000 shares of the basic materials company’s stock worth $85,638,000 after purchasing an additional 838,653 shares during the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

United States Steel Stock Performance

X opened at $36.38 on Friday. The firm has a market capitalization of $8.19 billion, a PE ratio of 23.93 and a beta of 1.86. United States Steel Co. has a 12-month low of $26.92 and a 12-month high of $50.20. The firm has a 50 day moving average of $37.09 and a two-hundred day moving average of $37.80. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35.

United States Steel (NYSE:X) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.77 billion. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The firm’s quarterly revenue was down 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 earnings per share. On average, analysts anticipate that United States Steel Co. will post 2.21 EPS for the current year.

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 11th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.55%. The ex-dividend date is Friday, November 8th. United States Steel’s dividend payout ratio is currently 13.16%.

Analyst Upgrades and Downgrades

X has been the subject of several analyst reports. Glj Research upgraded United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective for the company in a report on Monday, September 9th. JPMorgan Chase & Co. raised United States Steel from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $40.00 to $42.00 in a report on Monday, September 9th. BMO Capital Markets cut their price objective on shares of United States Steel from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. StockNews.com initiated coverage on shares of United States Steel in a research report on Monday, August 19th. They issued a “hold” rating for the company. Finally, BNP Paribas raised shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 target price on the stock in a research report on Friday, September 6th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.80.

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.