Alliancebernstein L.P. Has $24.47 Million Holdings in United States Steel Co. (NYSE:X)

Alliancebernstein L.P. lowered its position in United States Steel Co. (NYSE:X) by 10.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 719,945 shares of the basic materials company’s stock after selling 82,204 shares during the period. Alliancebernstein L.P. owned 0.32% of United States Steel worth $24,471,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in United States Steel by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 20,558,732 shares of the basic materials company’s stock worth $698,791,000 after purchasing an additional 186,994 shares in the last quarter. Norges Bank acquired a new stake in shares of United States Steel during the 4th quarter worth approximately $130,731,000. Geode Capital Management LLC lifted its position in shares of United States Steel by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,839,684 shares of the basic materials company’s stock valued at $135,691,000 after acquiring an additional 37,528 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in United States Steel by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,635,715 shares of the basic materials company’s stock worth $89,588,000 after acquiring an additional 35,007 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in United States Steel by 0.5% in the fourth quarter. Rhumbline Advisers now owns 624,008 shares of the basic materials company’s stock worth $21,210,000 after purchasing an additional 3,019 shares during the period. 81.92% of the stock is owned by institutional investors.

United States Steel Price Performance

X opened at $44.60 on Tuesday. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week high of $46.20. The firm has a 50-day moving average of $39.08 and a 200 day moving average of $37.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55. The firm has a market cap of $10.10 billion, a P/E ratio of 29.93, a PEG ratio of 1.53 and a beta of 1.79.

United States Steel (NYSE:X) last issued 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%. On average, research analysts expect that United States Steel Co. will post 1.43 EPS for the current year.

United States Steel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.45%. United States Steel’s dividend payout ratio is presently 13.42%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Morgan Stanley upped their price target on United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, March 7th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $45.00 price objective on shares of United States Steel in a research note on Monday, March 31st. JPMorgan Chase & Co. boosted their price objective on United States Steel from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. Bank of America assumed coverage on shares of United States Steel in a report on Monday, January 6th. They set a “neutral” rating and a $35.00 price objective on the stock. Finally, Jefferies Financial Group reduced their target price on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.32.

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.