United States Steel Co. (NYSE:X) Position Boosted by Swiss National Bank

Swiss National Bank increased its holdings in United States Steel Co. (NYSE:X) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 442,400 shares of the basic materials company’s stock after purchasing an additional 3,500 shares during the quarter. Swiss National Bank owned 0.20% of United States Steel worth $15,037,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Castle Hook Partners LP purchased a new stake in shares of United States Steel during the third quarter valued at $91,712,000. Holocene Advisors LP purchased a new stake in United States Steel during the third quarter valued at about $51,620,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of United States Steel by 26.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,598,831 shares of the basic materials company’s stock worth $162,477,000 after buying an additional 964,467 shares during the period. E. Ohman J or Asset Management AB purchased a new position in shares of United States Steel in the fourth quarter worth approximately $17,907,000. Finally, ARS Investment Partners LLC acquired a new stake in shares of United States Steel during the fourth quarter valued at approximately $15,510,000. 81.92% of the stock is owned by institutional investors and hedge funds.

United States Steel Trading Down 0.4 %

NYSE:X opened at $41.55 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55. The company has a market capitalization of $9.36 billion, a P/E ratio of 27.89, a P/E/G ratio of 1.53 and a beta of 1.86. The stock’s 50 day moving average price is $37.58 and its 200 day moving average price is $36.72. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $43.35.

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

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, February 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.48%. United States Steel’s dividend payout ratio (DPR) is presently 13.42%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on X. Jefferies Financial Group decreased their price objective on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley lifted their price target on United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday, March 7th. Bank of America assumed coverage on United States Steel in a research note on Monday, January 6th. They issued a “neutral” rating and a $35.00 price objective for the company. BMO Capital Markets lowered their target price on United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. increased their price target 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. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.70.

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.