LPL Financial LLC Cuts Stock Holdings in United States Steel Co. (NYSE:X)

LPL Financial LLC lessened its position in United States Steel Co. (NYSE:X - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 281,687 shares of the basic materials company's stock after selling 32,018 shares during the quarter. LPL Financial LLC owned about 0.12% of United States Steel worth $7,352,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. ICA Group Wealth Management LLC purchased a new position in United States Steel during the fourth quarter worth approximately $28,000. Belpointe Asset Management LLC acquired a new position in shares of United States Steel during the 4th quarter valued at about $29,000. Machina Capital S.A.S. purchased a new stake in shares of United States Steel in the first quarter valued at about $31,000. CWM LLC increased its position in United States Steel by 26.5% during the fourth quarter. CWM LLC now owns 1,682 shares of the basic materials company's stock worth $42,000 after purchasing an additional 352 shares during the last quarter. Finally, AXS Investments LLC purchased a new position in United States Steel during the fourth quarter worth about $42,000. 74.60% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE X opened at $30.86 on Wednesday. The business has a 50-day moving average price of $25.97 and a 200 day moving average price of $25.24. The stock has a market cap of $6.88 billion, a PE ratio of 5.93 and a beta of 2.15. The company has a quick ratio of 1.30, a current ratio of 1.92 and a debt-to-equity ratio of 0.38. United States Steel Co. has a 52-week low of $17.89 and a 52-week high of $32.52.

United States Steel (NYSE:X - Get Free Report) last announced its earnings results on Friday, July 28th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.86 by $0.06. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $5.11 billion. United States Steel had a net margin of 7.05% and a return on equity of 13.51%. The company's revenue for the quarter was down 20.4% compared to the same quarter last year. During the same period last year, the firm posted $3.86 earnings per share. Equities research analysts forecast that United States Steel Co. will post 3.97 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Monday, August 7th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Friday, August 4th. United States Steel's dividend payout ratio (DPR) is presently 3.85%.

In related news, VP James E. Bruno sold 58,812 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $32.00, for a total transaction of $1,881,984.00. Following the completion of the sale, the vice president now directly owns 56,548 shares of the company's stock, valued at $1,809,536. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other United States Steel news, SVP Duane D. Holloway sold 23,406 shares of the business's stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $31.00, for a total transaction of $725,586.00. Following the transaction, the senior vice president now owns 105,800 shares in the company, valued at approximately $3,279,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James E. Bruno sold 58,812 shares of the firm's stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $32.00, for a total value of $1,881,984.00. Following the completion of the sale, the vice president now directly owns 56,548 shares of the company's stock, valued at $1,809,536. The disclosure for this sale can be found here. 0.98% of the stock is owned by insiders.

X has been the subject of a number of recent analyst reports. BMO Capital Markets cut their price target on shares of United States Steel from $27.00 to $26.00 in a report on Monday, July 31st. Morgan Stanley reiterated an "equal weight" rating and set a $25.00 price target on shares of United States Steel in a report on Tuesday, August 1st. UBS Group reduced their price objective on shares of United States Steel from $27.00 to $25.00 in a report on Friday, May 5th. Wolfe Research lowered shares of United States Steel from a "peer perform" rating to an "underperform" rating and set a $19.00 target price for the company. in a research note on Thursday, June 1st. Finally, StockNews.com assumed coverage on shares of United States Steel in a research note on Friday, August 25th. They issued a "hold" rating on the stock. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $26.00.

Read Our Latest Analysis on X

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through four segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.

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