United States Steel Co. (NYSE:X) Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia grew its position in shares of United States Steel Co. (NYSE:X) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 293,447 shares of the basic materials company’s stock after purchasing an additional 18,386 shares during the period. Bank of Nova Scotia owned approximately 0.13% of United States Steel worth $9,974,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Captrust Financial Advisors grew its stake in United States Steel by 4.8% during the 3rd quarter. Captrust Financial Advisors now owns 7,012 shares of the basic materials company’s stock valued at $248,000 after purchasing an additional 321 shares in the last quarter. HighTower Advisors LLC lifted its holdings in United States Steel by 23.2% during the 3rd quarter. HighTower Advisors LLC now owns 33,268 shares of the basic materials company’s stock worth $1,188,000 after buying an additional 6,261 shares during the last quarter. M&T Bank Corp lifted its stake in United States Steel by 7.4% during the third quarter. M&T Bank Corp now owns 11,659 shares of the basic materials company’s stock worth $412,000 after purchasing an additional 804 shares during the last quarter. Vestcor Inc lifted its position in shares of United States Steel by 2,004.4% in the 3rd quarter. Vestcor Inc now owns 50,000 shares of the basic materials company’s stock worth $1,767,000 after buying an additional 47,624 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in United States Steel by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,839,684 shares of the basic materials company’s stock worth $135,691,000 after acquiring an additional 37,528 shares during the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

United States Steel Price Performance

NYSE X opened at $40.78 on Friday. United States Steel Co. has a 12 month low of $26.92 and a 12 month high of $46.18. The firm has a market capitalization of $9.23 billion, a PE ratio of 27.37, a P/E/G ratio of 1.53 and a beta of 1.79. The company’s 50 day simple moving average is $39.80 and its 200 day simple moving average is $37.62. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. As a group, equities research analysts forecast that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, February 10th. United States Steel’s payout ratio is 13.42%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on X. Bank of America initiated coverage on United States Steel in a research note on Monday, January 6th. They set a “neutral” rating and a $35.00 price objective for the company. Morgan Stanley lifted their price objective on shares of United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. upped their target price on shares of United States Steel from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. BMO Capital Markets reaffirmed a “market perform” rating and set a $45.00 price target on shares of United States Steel in a report on Monday, March 31st. Finally, Jefferies Financial Group decreased their price objective on United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, United States Steel currently has an average rating of “Moderate Buy” and a consensus target price of $40.65.

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.