Norges Bank Buys New Stake in United States Steel Co. (NYSE:X)

Norges Bank acquired a new stake in shares of United States Steel Co. (NYSE:X) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,846,172 shares of the basic materials company’s stock, valued at approximately $130,731,000. Norges Bank owned about 1.71% of United States Steel as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Empirical Asset Management LLC purchased a new stake in United States Steel during the fourth quarter valued at $525,000. ARS Investment Partners LLC bought a new stake in shares of United States Steel in the 4th quarter worth about $15,510,000. Rockefeller Capital Management L.P. raised its position in shares of United States Steel by 646.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 506,694 shares of the basic materials company’s stock valued at $17,902,000 after buying an additional 438,771 shares in the last quarter. Geode Capital Management LLC raised its position in shares of United States Steel by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,839,684 shares of the basic materials company’s stock valued at $135,691,000 after buying an additional 37,528 shares in the last quarter. Finally, Heck Capital Advisors LLC purchased a new position in United States Steel in the fourth quarter worth about $554,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

United States Steel Trading Down 1.6 %

NYSE X opened at $42.30 on Tuesday. United States Steel Co. has a 12 month low of $26.92 and a 12 month high of $44.87. The company’s 50-day moving average price is $38.64 and its 200-day moving average price is $37.26. The stock has a market cap of $9.58 billion, a PE ratio of 28.39, a PEG ratio of 1.53 and a beta of 1.86. The company has a current ratio of 1.55, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) EPS 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 research analysts forecast that United States Steel Co. will post 1.43 earnings per share for the current year.

United States Steel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th were given a dividend of $0.05 per share. 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 payout ratio is 13.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. BMO Capital Markets restated a “market perform” rating and set a $45.00 price objective on shares of United States Steel in a research report on Monday. Bank of America assumed coverage on United States Steel in a report on Monday, January 6th. They set a “neutral” rating and a $35.00 price target on the stock. Morgan Stanley lifted their price objective on shares of United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, March 7th. Jefferies Financial Group reduced their target price on shares of 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. raised their target price on shares of United States Steel from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, United States Steel has an average rating of “Moderate Buy” and a consensus price target of $41.32.

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.