3,846,172 Shares in United States Steel Co. (NYSE:X) Acquired by Norges Bank

Norges Bank bought a new stake in shares of United States Steel Co. (NYSE:X) during the 4th quarter, Holdings Channel.com reports. The fund bought 3,846,172 shares of the basic materials company’s stock, valued at approximately $130,731,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Holocene Advisors LP purchased a new stake in United States Steel during the third quarter valued at approximately $51,620,000. Turiya Advisors Asia Ltd acquired a new position in shares of United States Steel during the fourth quarter worth $19,384,000. E. Ohman J or Asset Management AB acquired a new position in shares of United States Steel during the fourth quarter worth $17,907,000. ARS Investment Partners LLC purchased a new stake in shares of United States Steel during the 4th quarter valued at $15,510,000. Finally, Rockefeller Capital Management L.P. boosted its position in shares of United States Steel by 646.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 506,694 shares of the basic materials company’s stock worth $17,902,000 after purchasing an additional 438,771 shares in the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

United States Steel Price Performance

NYSE:X opened at $42.30 on Tuesday. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $44.87. The stock’s fifty day moving average is $38.64 and its two-hundred day moving average is $37.26. The company has a market capitalization of $9.58 billion, a P/E ratio of 28.39, a P/E/G ratio of 1.53 and a beta of 1.86. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last posted its quarterly earnings data 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 return on equity of 4.27% and a net margin of 2.46%. Equities analysts expect that United States Steel Co. will post 1.43 EPS for the current year.

United States Steel Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $45.00 target price on shares of United States Steel in a research report on Monday. 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 report on Monday, January 6th. Bank of America began coverage on shares of United States Steel in a research report on Monday, January 6th. They set a “neutral” rating and a $35.00 target price on the stock. Morgan Stanley raised their price target on shares of United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.32.

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.