Wellington Management Group LLP Lowers Holdings in United States Steel Co. (NYSE:X)

Wellington Management Group LLP decreased its position in United States Steel Co. (NYSE:X - Free Report) by 28.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 202,842 shares of the basic materials company's stock after selling 79,190 shares during the period. Wellington Management Group LLP owned approximately 0.09% of United States Steel worth $9,868,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of X. Pacific Capital Wealth Advisors Inc. bought a new position in shares of United States Steel in the fourth quarter valued at approximately $25,000. GAMMA Investing LLC bought a new position in shares of United States Steel in the fourth quarter valued at approximately $33,000. Pineridge Advisors LLC bought a new position in shares of United States Steel in the fourth quarter valued at approximately $44,000. Scarborough Advisors LLC bought a new position in shares of United States Steel in the fourth quarter valued at approximately $49,000. Finally, Rakuten Securities Inc. bought a new position in shares of United States Steel in the fourth quarter valued at approximately $53,000. Institutional investors own 81.92% of the company's stock.

United States Steel Price Performance

Shares of NYSE:X traded up $1.00 during midday trading on Friday, reaching $37.80. 3,593,877 shares of the company's stock were exchanged, compared to its average volume of 4,012,621. The company's 50 day simple moving average is $37.26 and its two-hundred day simple moving average is $42.28. The firm has a market capitalization of $8.50 billion, a PE ratio of 11.09 and a beta of 1.99. United States Steel Co. has a 12 month low of $22.26 and a 12 month high of $50.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.71.

United States Steel (NYSE:X - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.01. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. The firm had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.22 billion. Equities research analysts expect that United States Steel Co. will post 2.69 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Monday, May 13th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Friday, May 10th. United States Steel's payout ratio is presently 5.87%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wolfe Research raised shares of United States Steel from a "peer perform" rating to an "outperform" rating and set a $46.00 target price for the company in a research note on Tuesday, April 9th. Morgan Stanley raised shares of United States Steel from an "equal weight" rating to an "overweight" rating and cut their target price for the company from $51.00 to $48.00 in a research note on Monday, May 6th. StockNews.com began coverage on shares of United States Steel in a research report on Monday. They issued a "hold" rating for the company. Jefferies Financial Group began coverage on shares of United States Steel in a research report on Monday, May 20th. They issued a "buy" rating and a $45.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of United States Steel from $47.00 to $43.00 and set a "neutral" rating for the company in a research report on Friday, May 3rd. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, United States Steel presently has an average rating of "Hold" and a consensus target price of $38.78.

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.