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

KLP Kapitalforvaltning AS bought a new stake in shares of United States Steel Co. (NYSE:X) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 45,200 shares of the basic materials company’s stock, valued at approximately $1,536,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameliora Wealth Management Ltd. bought a new position in United States Steel during the fourth quarter valued at about $27,000. ORG Wealth Partners LLC bought a new stake in shares of United States Steel during the fourth quarter valued at approximately $30,000. Parkworth Wealth Management Inc. acquired a new position in shares of United States Steel in the fourth quarter valued at $31,000. Lee Danner & Bass Inc. bought a new position in United States Steel in the fourth quarter worth $32,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in United States Steel during the fourth quarter worth $34,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. BMO Capital Markets raised their price objective 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. Bank of America initiated coverage on shares of United States Steel in a research note on Monday, January 6th. They set a “neutral” rating and a $35.00 price target for the company. Morgan Stanley increased their target price 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. Jefferies Financial Group decreased their price target on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. upped their price target on United States Steel from $40.00 to $43.00 and gave the company 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.32.

United States Steel Price Performance

United States Steel stock opened at $43.00 on Friday. United States Steel Co. has a 52 week low of $26.92 and a 52 week high of $44.87. The firm has a market cap of $9.73 billion, a P/E ratio of 28.86, a P/E/G ratio of 1.53 and a beta of 1.86. 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 business’s fifty day moving average is $38.52 and its two-hundred day moving average is $37.14.

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 return on equity of 4.27% and a net margin of 2.46%. Equities research analysts forecast that United States Steel Co. will post 1.43 earnings per share 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. Investors of record on Monday, February 10th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, February 10th. United States Steel’s dividend payout ratio is currently 13.42%.

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.