Geode Capital Management LLC Buys 37,528 Shares of United States Steel Co. (NYSE:X)

Geode Capital Management LLC raised its stake in shares of United States Steel Co. (NYSE:X) by 1.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,839,684 shares of the basic materials company’s stock after purchasing an additional 37,528 shares during the quarter. Geode Capital Management LLC owned 1.71% of United States Steel worth $135,691,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in X. Wealth Enhancement Advisory Services LLC lifted its position in United States Steel by 9.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,351 shares of the basic materials company’s stock worth $353,000 after purchasing an additional 826 shares during the period. Blue Trust Inc. lifted its holdings in shares of United States Steel by 339.0% during the 2nd quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 773 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of United States Steel during the 2nd quarter valued at about $147,000. SeaCrest Wealth Management LLC acquired a new stake in shares of United States Steel during the 2nd quarter valued at about $280,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in United States Steel in the second quarter valued at about $287,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on X shares. JPMorgan Chase & Co. raised United States Steel from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $42.00 in a report on Monday, September 9th. Glj Research upgraded United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price target on the stock in a research report on Monday, September 9th. BMO Capital Markets cut 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. Jefferies Financial Group lowered their target price on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Finally, StockNews.com initiated coverage on shares of United States Steel in a research report on Monday, August 19th. They set a “hold” rating for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.80.

United States Steel Stock Performance

United States Steel stock opened at $32.77 on Tuesday. The stock has a 50-day simple moving average of $38.24 and a 200 day simple moving average of $37.92. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 21.56 and a beta of 1.83. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35. United States Steel Co. has a 12-month low of $26.92 and a 12-month high of $50.20.

United States Steel (NYSE:X) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the previous year, the firm posted $1.36 earnings per share. The company’s revenue was down 13.0% on a year-over-year basis. On average, research analysts anticipate that United States Steel Co. will post 2.17 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.61%. United States Steel’s payout ratio 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.