Federated Hermes Inc. Sells 100,775 Shares of United States Steel Co. (NYSE:X)

Federated Hermes Inc. lowered its holdings in United States Steel Co. (NYSE:X) by 79.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,474 shares of the basic materials company’s stock after selling 100,775 shares during the period. Federated Hermes Inc.’s holdings in United States Steel were worth $1,239,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of X. Wolff Wiese Magana LLC grew its stake in United States Steel by 181.4% in 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 in the last quarter. Fifth Third Bancorp grew its stake 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 in the last quarter. Rakuten Securities Inc. purchased a new position in United States Steel in the 4th quarter worth approximately $53,000. Trust Co. of Vermont purchased a new position in United States Steel in the 3rd quarter worth approximately $65,000. Finally, CWM LLC grew its stake in United States Steel by 51.1% in the 3rd quarter. CWM LLC now owns 2,828 shares of the basic materials company’s stock worth $92,000 after buying an additional 957 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.

Wall Street Analysts Forecast Growth

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

United States Steel Price Performance

Shares of NYSE:X opened at $36.51 on Wednesday. United States Steel Co. has a twelve month low of $20.40 and a twelve month high of $50.20. The stock has a market capitalization of $8.21 billion, a PE ratio of 10.40 and a beta of 2.01. The firm’s 50 day moving average price is $42.07 and its 200-day moving average price is $41.49. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.37.

United States Steel (NYSE:X) last released 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. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. The company had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter last year, the business earned $0.87 EPS. The firm’s revenue was down 4.5% compared to the same quarter last year. Equities research analysts expect that United States Steel Co. will post 2.99 EPS for the current year.

United States Steel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders 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 yield of 0.55%. The ex-dividend date of this dividend was Friday, February 9th. United States Steel’s payout ratio is 5.70%.

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.