The Manufacturers Life Insurance Company Sells 5,165 Shares of United States Steel Co. (NYSE:X)

The Manufacturers Life Insurance Company decreased its holdings in shares of United States Steel Co. (NYSE:X) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 161,432 shares of the basic materials company’s stock after selling 5,165 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of United States Steel worth $6,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in X. Rothschild Investment LLC purchased a new stake in shares of United States Steel in the second quarter worth about $26,000. Riverview Trust Co bought a new position in United States Steel in the 1st quarter valued at $29,000. Pineridge Advisors LLC purchased a new position in shares of United States Steel during the 4th quarter valued at $44,000. Blue Trust Inc. increased its holdings 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 purchasing an additional 773 shares during the period. Finally, Scarborough Advisors LLC purchased a new stake in shares of United States Steel in the fourth quarter worth $49,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

United States Steel Stock Performance

Shares of X stock opened at $35.47 on Friday. The company has a market capitalization of $7.98 billion, a P/E ratio of 10.40 and a beta of 1.87. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week 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 1.72. The stock has a 50 day moving average price of $37.53 and a two-hundred day moving average price of $38.14.

United States Steel (NYSE:X) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.12. The company had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.01 billion. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The firm’s revenue was down 17.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.92 EPS. Analysts expect that United States Steel Co. will post 2.18 earnings per share for the current year.

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 12th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Monday, August 12th. United States Steel’s payout ratio is 5.87%.

Wall Street Analyst Weigh In

X has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and raised their target price for the company from $40.00 to $42.00 in a research note on Monday, September 9th. StockNews.com initiated coverage on shares of United States Steel in a report on Monday, August 19th. They set a “hold” rating for the company. Morgan Stanley increased their target price on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. BMO Capital Markets raised United States Steel from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $43.00 to $45.00 in a research note on Wednesday, June 26th. Finally, BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research report on Friday, September 6th. Four analysts have rated the stock with a hold rating and seven have assigned 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 an average target price of $40.62.

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.