Massachusetts Financial Services Co. MA Purchases 3,551,870 Shares of United States Steel Co. (NYSE:X)

Massachusetts Financial Services Co. MA lifted its holdings in United States Steel Co. (NYSE:X) by 4,305.6% during the 2nd quarter, Holdings Channel reports. The fund owned 3,634,364 shares of the basic materials company’s stock after acquiring an additional 3,551,870 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in United States Steel were worth $137,379,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Parallel Advisors LLC raised its stake in shares of United States Steel by 28.7% in the fourth quarter. Parallel Advisors LLC now owns 1,363 shares of the basic materials company’s stock worth $66,000 after acquiring an additional 304 shares during the last quarter. Quadrant Capital Group LLC raised its position in United States Steel by 18.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,004 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 313 shares during the last quarter. Diversified Trust Co lifted its holdings in United States Steel by 4.0% during the 1st quarter. Diversified Trust Co now owns 8,373 shares of the basic materials company’s stock worth $341,000 after buying an additional 324 shares in the last quarter. Signaturefd LLC boosted its position in United States Steel by 8.3% in the 2nd quarter. Signaturefd LLC now owns 4,673 shares of the basic materials company’s stock valued at $177,000 after buying an additional 360 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its stake in shares of United States Steel by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 30,529 shares of the basic materials company’s stock valued at $1,154,000 after buying an additional 405 shares during the period. 81.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on X shares. BMO Capital Markets raised United States Steel from a “market perform” rating to an “outperform” rating and upped their price target for the company from $43.00 to $45.00 in a research note on Wednesday, June 26th. Glj Research raised shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price on the stock in a research note on Monday, September 9th. StockNews.com began coverage on shares of United States Steel in a research report on Monday, August 19th. They set a “hold” rating for the company. JPMorgan Chase & Co. upgraded shares of United States Steel from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $40.00 to $42.00 in a report on Monday, September 9th. Finally, Morgan Stanley lifted their target price on shares of United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, United States Steel presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.76.

United States Steel Stock Performance

X stock opened at $36.80 on Thursday. United States Steel Co. has a 1-year low of $26.92 and a 1-year high of $50.20. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a market cap of $8.28 billion, a PE ratio of 10.79 and a beta of 1.88. The business’s 50-day moving average price is $38.11 and its two-hundred day moving average price is $38.76.

United States Steel (NYSE:X) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.12. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the business posted $1.92 EPS. United States Steel’s revenue for the quarter was down 17.8% on a year-over-year basis. As a group, research analysts forecast that United States Steel Co. will post 2.15 earnings per share for the current year.

United States Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Monday, August 12th. United States Steel’s dividend payout ratio is 5.87%.

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.