Massachusetts Financial Services Co. MA Increases Stock Position in United States Steel Co. (NYSE:X)

Massachusetts Financial Services Co. MA raised its position in United States Steel Co. (NYSE:X) by 26.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,598,831 shares of the basic materials company’s stock after acquiring an additional 964,467 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.04% of United States Steel worth $162,477,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rothschild Investment LLC bought a new position in shares of United States Steel during the second quarter valued at approximately $26,000. Palouse Capital Management Inc. purchased a new position in United States Steel during the 3rd quarter valued at $35,000. Gladius Capital Management LP purchased a new stake in shares of United States Steel in the 3rd quarter worth about $39,000. Blue Trust Inc. lifted its position in shares of United States Steel by 339.0% in the 2nd quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 773 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of United States Steel during the 2nd quarter valued at about $46,000. 81.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

X has been the topic of several research reports. StockNews.com assumed coverage on United States Steel in a research report on Monday, August 19th. They set a “hold” rating on the stock. BMO Capital Markets decreased their price objective on United States Steel from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, November 1st. JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $40.00 to $42.00 in a research report on Monday, September 9th. Jefferies Financial Group dropped their price objective on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Finally, BNP Paribas raised shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Friday, September 6th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.80.

United States Steel Trading Down 3.7 %

NYSE:X opened at $39.03 on Friday. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 25.68 and a beta of 1.86. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average price is $37.84 and its 200-day moving average price is $37.85. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $50.20.

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

United States Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Friday, November 8th. United States Steel’s dividend payout ratio (DPR) is 13.16%.

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.