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

Wellington Management Group LLP lessened its stake in shares of United States Steel Co. (NYSE:X) by 28.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202,842 shares of the basic materials company’s stock after selling 79,190 shares during the quarter. Wellington Management Group LLP owned 0.09% of United States Steel worth $9,868,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Pineridge Advisors LLC purchased a new stake in shares of United States Steel in the 4th quarter valued at $44,000. Scarborough Advisors LLC acquired a new stake in shares of United States Steel during the fourth quarter worth about $49,000. Readystate Asset Management LP boosted its stake in shares of United States Steel by 84.2% in the fourth quarter. Readystate Asset Management LP now owns 485,086 shares of the basic materials company’s stock valued at $23,599,000 after purchasing an additional 221,686 shares during the period. Third Point LLC grew its holdings in shares of United States Steel by 15.8% in the fourth quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock valued at $267,575,000 after purchasing an additional 750,000 shares in the last quarter. Finally, Caxton Associates LP increased its stake in United States Steel by 3,034.7% during the 4th quarter. Caxton Associates LP now owns 244,662 shares of the basic materials company’s stock worth $11,903,000 after buying an additional 236,857 shares during the period. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Jefferies Financial Group started coverage on shares of United States Steel in a research note on Monday, May 20th. They issued a “buy” rating and a $45.00 price target for the company. BMO Capital Markets raised United States Steel from a “market perform” rating to an “outperform” rating and increased their price target for the company from $43.00 to $45.00 in a research report on Wednesday. Wolfe Research raised United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective for the company in a research report on Tuesday, April 9th. StockNews.com started coverage on shares of United States Steel in a research note on Monday. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. decreased 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 note on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $38.78.

United States Steel Price Performance

Shares of X opened at $36.80 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.71 and a quick ratio of 1.14. United States Steel Co. has a 1-year low of $22.26 and a 1-year high of $50.20. The stock has a market cap of $8.27 billion, a PE ratio of 10.79 and a beta of 1.99. The firm has a fifty day moving average price of $37.28 and a 200 day moving average price of $42.27.

United States Steel (NYSE:X) last announced its earnings results on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The firm had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.22 billion. United States Steel had a return on equity of 10.61% and a net margin of 4.89%. As a group, sell-side analysts anticipate that United States Steel Co. will post 2.69 EPS for the current year.

United States Steel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Monday, May 13th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.20 annualized dividend and a yield of 0.54%. United States Steel’s dividend payout ratio (DPR) is 5.87%.

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.