KLP Kapitalforvaltning AS Invests $1.54 Million in United States Steel Co. (NYSE:X)

KLP Kapitalforvaltning AS acquired a new stake in United States Steel Co. (NYSE:X) during the fourth quarter, HoldingsChannel reports. The fund acquired 45,200 shares of the basic materials company’s stock, valued at approximately $1,536,000.

Other institutional investors have also recently bought and sold shares of the company. Lee Danner & Bass Inc. acquired a new position in shares of United States Steel during the 4th quarter worth about $32,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in United States Steel by 0.8% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,730 shares of the basic materials company’s stock valued at $1,690,000 after purchasing an additional 412 shares during the period. Xponance Inc. increased its stake in United States Steel by 11.8% in the fourth quarter. Xponance Inc. now owns 27,838 shares of the basic materials company’s stock valued at $946,000 after purchasing an additional 2,933 shares in the last quarter. Corient Private Wealth LLC raised its holdings in United States Steel by 22.9% in the fourth quarter. Corient Private Wealth LLC now owns 35,939 shares of the basic materials company’s stock worth $1,221,000 after purchasing an additional 6,707 shares during the period. Finally, CBIZ Investment Advisory Services LLC bought a new position in shares of United States Steel during the fourth quarter worth $37,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

United States Steel Stock Up 0.0 %

NYSE:X opened at $43.00 on Friday. United States Steel Co. has a twelve month low of $26.92 and a twelve month high of $44.87. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. The stock’s 50 day moving average price is $38.52 and its two-hundred day moving average price is $37.14. The firm has a market capitalization of $9.73 billion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86.

United States Steel (NYSE:X) last released its quarterly earnings data 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%. Equities research analysts expect that United States Steel Co. will post 1.43 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.47%. United States Steel’s dividend payout ratio is currently 13.42%.

Analyst Ratings Changes

Several equities research analysts have issued reports on X shares. Morgan Stanley increased their price target on United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a report on Friday, March 7th. BMO Capital Markets raised their target price on shares of United States Steel from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. JPMorgan Chase & Co. upped their price target on shares of United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Jefferies Financial Group dropped their price objective on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Bank of America initiated coverage on United States Steel in a report on Monday, January 6th. They set a “neutral” rating and a $35.00 target price for the company. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $41.32.

United States Steel Company 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.