Massachusetts Financial Services Co. MA lifted its holdings in shares of United States Steel Co. (NYSE:X – Get Rating) by 6.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,224 shares of the basic materials company’s stock after buying an additional 5,618 shares during the period. Massachusetts Financial Services Co. MA’s holdings in United States Steel were worth $1,707,000 at the end of the most recent reporting period.
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Other hedge funds have also bought and sold shares of the company. South Dakota Investment Council lifted its holdings in shares of United States Steel by 23.6% during the 3rd quarter. South Dakota Investment Council now owns 428,196 shares of the basic materials company’s stock valued at $7,759,000 after buying an additional 81,880 shares during the period. California Public Employees Retirement System boosted its position in United States Steel by 12.8% in the third quarter. California Public Employees Retirement System now owns 567,612 shares of the basic materials company’s stock worth $10,285,000 after purchasing an additional 64,512 shares during the last quarter. Cambria Investment Management L.P. grew its stake in shares of United States Steel by 82.9% during the 3rd quarter. Cambria Investment Management L.P. now owns 27,456 shares of the basic materials company’s stock valued at $498,000 after purchasing an additional 12,441 shares during the period. AlphaCentric Advisors LLC purchased a new stake in shares of United States Steel during the 3rd quarter valued at about $70,000. Finally, Signaturefd LLC lifted its stake in shares of United States Steel by 72.6% in the 3rd quarter. Signaturefd LLC now owns 3,886 shares of the basic materials company’s stock worth $70,000 after purchasing an additional 1,635 shares during the period. Hedge funds and other institutional investors own 75.02% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Bank of America began coverage on shares of United States Steel in a report on Wednesday, January 4th. They set an “underperform” rating for the company. The Goldman Sachs Group increased their price target on shares of United States Steel from $23.00 to $26.00 and gave the stock a “sell” rating in a research report on Monday, February 6th. Morgan Stanley increased their price target on shares of United States Steel from $20.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 8th. Finally, BMO Capital Markets increased their price target on shares of United States Steel from $25.00 to $33.00 and gave the stock a “market perform” rating in a research report on Monday, February 6th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, United States Steel currently has a consensus rating of “Hold” and a consensus target price of $29.29.
United States Steel Stock Up 2.4 %
Shares of X stock opened at $29.92 on Thursday. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 3.34 and a beta of 2.16. United States Steel Co. has a one year low of $16.41 and a one year high of $39.25. The company’s fifty day moving average price is $27.10 and its 200-day moving average price is $24.01. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.99 and a quick ratio of 1.39.
United States Steel (NYSE:X – Get Rating) last announced its quarterly earnings data on Friday, February 3rd. The basic materials company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.60 by $0.27. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.01 billion. United States Steel had a net margin of 11.98% and a return on equity of 26.75%. The company’s revenue was down 22.8% on a year-over-year basis. During the same period last year, the firm earned $3.64 EPS. Sell-side analysts expect that United States Steel Co. will post 1.5 EPS for the current fiscal year.
United States Steel Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 14th. Investors of record on Monday, February 13th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, February 10th. This represents a $0.20 annualized dividend and a yield of 0.67%. United States Steel’s payout ratio is 2.23%.
United States Steel Company Profile
United States Steel Corp. engages in the manufacturing and selling of steel products. It operates through the following business segments: Flat-Rolled Products, Mini Mill, U.S. Steel Europe, and Tubular Products. The Flat-Rolled Products segment includes managing steel plants and production facilities that manufacture steel slabs, rounds, strip mill plates, sheets, tin mill, iron ore, and coke.
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