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

Geode Capital Management LLC increased its holdings in shares of United States Steel Co. (NYSE:X) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,839,684 shares of the basic materials company’s stock after buying an additional 37,528 shares during the period. Geode Capital Management LLC’s holdings in United States Steel were worth $135,691,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Rothschild Investment LLC bought a new stake in shares of United States Steel during the 2nd quarter valued at $26,000. Palouse Capital Management Inc. bought a new stake in United States Steel in the third quarter valued at about $35,000. Blue Trust Inc. lifted its stake in 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 valued at $41,000 after buying an additional 773 shares during the period. Gladius Capital Management LP bought a new position in United States Steel during the third quarter worth about $39,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of United States Steel during the 2nd quarter worth about $46,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

United States Steel Price Performance

X stock opened at $32.77 on Tuesday. The stock has a 50-day moving average price of $38.24 and a two-hundred day moving average price of $37.92. United States Steel Co. has a 1 year low of $26.92 and a 1 year high of $50.20. The stock has a market cap of $7.38 billion, a PE ratio of 21.56 and a beta of 1.83. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35.

United States Steel (NYSE:X) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the firm earned $1.36 EPS. United States Steel’s revenue for the quarter was down 13.0% compared to the same quarter last year. Equities analysts forecast that United States Steel Co. will post 2.17 EPS for the current fiscal 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 given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Friday, November 8th. United States Steel’s dividend payout ratio is presently 13.16%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on X shares. Jefferies Financial Group cut their price target on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. StockNews.com initiated coverage on shares of United States Steel in a research report on Monday, August 19th. They set a “hold” rating on the stock. Glj Research upgraded shares of 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. BNP Paribas raised United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research note on Friday, September 6th. Finally, BMO Capital Markets decreased their target price on 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. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, United States Steel presently has a consensus rating of “Moderate Buy” and a consensus target price 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.