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

Geode Capital Management LLC lifted its stake in United States Steel Co. (NYSE:X - Free Report) by 1.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its position 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 valued at $353,000 after purchasing an additional 826 shares during the last quarter. Blue Trust Inc. grew its stake 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 valued at $41,000 after buying an additional 773 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of United States Steel in the 2nd quarter valued at approximately $147,000. SeaCrest Wealth Management LLC acquired a new position in United States Steel in the second quarter worth approximately $280,000. Finally, Fifth Third Wealth Advisors LLC bought a new position in United States Steel during the second quarter valued at approximately $287,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

United States Steel Trading Down 2.5 %

X stock traded down $0.81 during midday trading on Tuesday, reaching $31.93. The company's stock had a trading volume of 4,896,864 shares, compared to its average volume of 4,585,345. The business's 50-day simple moving average is $38.18 and its 200-day simple moving average is $37.88. The stock has a market cap of $7.19 billion, a PE ratio of 21.01 and a beta of 1.83. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $50.20. 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 (NYSE:X - Get Free Report) last posted its earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.15. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.77 billion. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The company's revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.36 EPS. As a group, sell-side analysts expect that United States Steel Co. will post 2.17 EPS for the current year.

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend 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 presently 13.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on X shares. 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 report on Monday, September 9th. StockNews.com initiated coverage on shares of United States Steel in a report on Monday, August 19th. They set a "hold" rating for the company. JPMorgan Chase & Co. raised United States Steel from a "neutral" rating to an "overweight" rating and raised their price target for the company from $40.00 to $42.00 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 research report on Friday, November 1st. Finally, BNP Paribas raised United States Steel from a "neutral" rating to an "outperform" rating and set a $40.00 target price on the stock in a report on Friday, September 6th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.80.

United States Steel Company 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.