Franklin Resources Inc. Decreases Holdings in United States Steel Co. (NYSE:X)

Franklin Resources Inc. trimmed its holdings in shares of United States Steel Co. (NYSE:X - Free Report) by 33.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,192,446 shares of the basic materials company's stock after selling 1,107,110 shares during the quarter. Franklin Resources Inc. owned 0.97% of United States Steel worth $79,849,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in United States Steel by 9.7% during 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 in the last quarter. Blue Trust Inc. boosted its holdings in 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 valued at $41,000 after acquiring an additional 773 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in United States Steel in the 2nd quarter valued at about $147,000. SeaCrest Wealth Management LLC purchased a new stake in United States Steel during the second quarter worth about $280,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in United States Steel during the second quarter worth about $287,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

United States Steel Stock Performance

United States Steel stock traded down $0.80 during midday trading on Tuesday, hitting $31.94. 4,879,941 shares of the company's stock were exchanged, compared to its average volume of 4,585,344. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.08 and a current ratio of 1.67. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 21.56 and a beta of 1.83. United States Steel Co. has a 12-month low of $26.92 and a 12-month high of $50.20. The firm's 50 day simple moving average is $38.24 and its 200 day simple moving average is $37.92.

United States Steel (NYSE:X - Get Free Report) last posted its quarterly earnings data 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 return on equity of 6.01% and a net margin of 2.41%. The company had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $3.77 billion. During the same period last year, the firm earned $1.36 EPS. The firm's revenue for the quarter was down 13.0% on a year-over-year basis. Equities research analysts predict that United States Steel Co. will post 2.17 EPS for the current year.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Friday, November 8th. United States Steel's dividend payout ratio (DPR) is 13.16%.

Analyst Ratings Changes

A number of research analysts recently issued reports on X shares. StockNews.com initiated coverage on United States Steel in a report on Monday, August 19th. They issued a "hold" rating for the company. Glj Research raised United States Steel from a "sell" rating to a "buy" rating and set a $38.57 price objective for the company in a research report on Monday, September 9th. JPMorgan Chase & Co. raised shares of United States Steel from a "neutral" rating to an "overweight" rating and raised their target price for the company from $40.00 to $42.00 in a report on Monday, September 9th. BMO Capital Markets decreased their price target on shares of United States Steel from $45.00 to $43.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Finally, BNP Paribas raised shares of United States Steel from a "neutral" rating to an "outperform" rating and set a $40.00 price objective on the stock in a research report on Friday, September 6th. 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 presently has an average rating of "Moderate Buy" and a consensus price target of $42.80.

About United States Steel

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.