Geode Capital Management LLC Buys 22,380 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 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,862,064 shares of the basic materials company's stock after buying an additional 22,380 shares during the period. Geode Capital Management LLC owned about 1.71% of United States Steel worth $131,313,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of X. Meridian Investment Counsel Inc. boosted its position in United States Steel by 4.3% in the fourth quarter. Meridian Investment Counsel Inc. now owns 14,700 shares of the basic materials company's stock valued at $500,000 after buying an additional 600 shares in the last quarter. Wellington Management Group LLP lifted its holdings in United States Steel by 1.8% in the fourth quarter. Wellington Management Group LLP now owns 216,382 shares of the basic materials company's stock valued at $7,355,000 after buying an additional 3,837 shares during the period. Hartree Partners LP raised its position in shares of United States Steel by 140.9% during the 4th quarter. Hartree Partners LP now owns 257,606 shares of the basic materials company's stock valued at $8,756,000 after acquiring an additional 150,669 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of United States Steel by 1.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 34,793 shares of the basic materials company's stock worth $1,183,000 after purchasing an additional 628 shares during the period. Finally, Norges Bank acquired a new position in shares of United States Steel during the 4th quarter worth about $130,731,000. 81.92% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

X has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of United States Steel from $40.00 to $43.00 and gave the company an "overweight" rating in a research note on Tuesday, March 11th. Bank of America started coverage on United States Steel in a research note on Monday, January 6th. They issued a "neutral" rating and a $35.00 target price on the stock. BMO Capital Markets restated a "market perform" rating and issued a $45.00 price objective on shares of United States Steel in a report on Monday, March 31st. Morgan Stanley upped their price objective on United States Steel from $39.00 to $43.00 and gave the company an "equal weight" rating in a research note on Friday, March 7th. Finally, Jefferies Financial Group decreased their price objective on shares of United States Steel from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $40.65.

United States Steel Price Performance

Shares of United States Steel stock traded up $0.31 during trading on Monday, reaching $40.37. 484,532 shares of the company's stock were exchanged, compared to its average volume of 5,406,750. The firm's 50-day moving average price is $39.85 and its 200 day moving average price is $37.65. The company has a market cap of $9.14 billion, a P/E ratio of 27.10, a PEG ratio of 1.53 and a beta of 1.79. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55. United States Steel Co. has a 1-year low of $26.92 and a 1-year high of $46.18.

United States Steel (NYSE:X - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. As a group, research analysts anticipate that United States Steel Co. will post 1.43 earnings per share for the current year.

United States Steel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, February 10th. United States Steel's payout ratio is 13.42%.

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.