Massachusetts Financial Services Co. MA Boosts Position in United States Steel Co. (NYSE:X)

Massachusetts Financial Services Co. MA boosted its position in United States Steel Co. (NYSE:X) by 26.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,598,831 shares of the basic materials company’s stock after purchasing an additional 964,467 shares during the period. Massachusetts Financial Services Co. MA’s holdings in United States Steel were worth $162,477,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. Rothschild Investment LLC purchased a new stake in shares of United States Steel in the 2nd quarter worth $26,000. Palouse Capital Management Inc. bought a new stake in United States Steel during the third quarter valued at about $35,000. Gladius Capital Management LP purchased a new stake in United States Steel in the third quarter worth about $39,000. Blue Trust Inc. raised its stake in shares of United States Steel by 339.0% in the second quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock worth $41,000 after buying an additional 773 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of United States Steel during the 2nd quarter valued at approximately $46,000. 81.92% of the stock is currently owned by institutional investors.

United States Steel Trading Down 3.7 %

Shares of United States Steel stock opened at $39.03 on Friday. United States Steel Co. has a twelve month low of $26.92 and a twelve month 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. The business has a 50-day moving average price of $37.84 and a 200-day moving average price of $37.85. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of 25.68 and a beta of 1.86.

United States Steel (NYSE:X) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate 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 was down 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS. Equities research analysts anticipate that United States Steel Co. will post 2.21 EPS for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, November 8th. This represents a $0.20 annualized dividend and a yield of 0.51%. United States Steel’s dividend payout ratio (DPR) is currently 13.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on X shares. StockNews.com began coverage on shares of United States Steel in a research note on Monday, August 19th. They set a “hold” rating on the stock. BNP Paribas upgraded shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 target price on the stock in a research note on Friday, September 6th. Glj Research upgraded United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price target for the company in a research note on Monday, September 9th. BMO Capital Markets lowered their price objective on United States Steel from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Jefferies Financial Group cut their target price on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, United States Steel currently has an average rating of “Moderate Buy” and a consensus price target of $42.80.

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.