Wellington Management Group LLP Purchases Shares of 27,989 United States Steel Co. (NYSE:X)

Wellington Management Group LLP acquired a new position in shares of United States Steel Co. (NYSE:X) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 27,989 shares of the basic materials company’s stock, valued at approximately $177,000.

Other institutional investors also recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. increased its position in United States Steel by 1.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 159,943 shares of the basic materials company’s stock worth $3,117,000 after purchasing an additional 2,795 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of United States Steel by 34.3% during the fourth quarter. Victory Capital Management Inc. now owns 51,028 shares of the basic materials company’s stock valued at $463,000 after buying an additional 13,022 shares during the period. Charles Schwab Investment Management Inc. boosted its position in United States Steel by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,029,571 shares of the basic materials company’s stock worth $11,748,000 after acquiring an additional 46,399 shares during the last quarter. Rafferty Asset Management LLC acquired a new stake in United States Steel during the fourth quarter worth approximately $289,000. Finally, Vident Investment Advisory LLC purchased a new stake in United States Steel in the 4th quarter worth approximately $1,783,000. Hedge funds and other institutional investors own 61.84% of the company’s stock.

X opened at $7.28 on Wednesday. United States Steel Co. has a twelve month low of $4.54 and a twelve month high of $15.90. The company has a current ratio of 1.69, a quick ratio of 0.94 and a debt-to-equity ratio of 1.29. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -1.14 and a beta of 2.61. The company has a fifty day simple moving average of $8.35 and a 200 day simple moving average of $8.58.

United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported ($0.73) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.80) by $0.07. United States Steel had a negative return on equity of 4.63% and a negative net margin of 8.92%. The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company’s revenue was down 21.5% compared to the same quarter last year. On average, analysts forecast that United States Steel Co. will post -5 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 11th were issued a $0.01 dividend. The ex-dividend date was Friday, May 8th. This represents a $0.04 annualized dividend and a yield of 0.55%. United States Steel’s dividend payout ratio is presently 44.44%.

A number of brokerages have recently commented on X. JPMorgan Chase & Co. lowered their price objective on United States Steel from $9.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, April 17th. UBS Group lowered their price target on United States Steel from $7.00 to $4.00 and set a “sell” rating for the company in a report on Thursday, May 14th. ValuEngine raised shares of United States Steel from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 3rd. BMO Capital Markets decreased their target price on shares of United States Steel from $9.00 to $6.00 and set a “market perform” rating on the stock in a research report on Monday, March 23rd. Finally, upgraded shares of United States Steel from a “sell” rating to a “hold” rating in a report on Tuesday, June 9th. Eight research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $8.40.

About United States Steel

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: North American Flat-Rolled (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets and tin mill products, as well as all iron ore and coke.

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Institutional Ownership by Quarter for United States Steel (NYSE:X)

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