Norges Bank Makes New Investment in United States Steel Co. (NYSE:X)

Norges Bank purchased a new position in shares of United States Steel Co. (NYSE:X - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,130,556 shares of the basic materials company's stock, valued at approximately $200,952,000. Norges Bank owned approximately 1.85% of United States Steel as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. grew its position in shares of United States Steel by 308.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 331,492 shares of the basic materials company's stock valued at $16,127,000 after buying an additional 250,311 shares during the last quarter. FNY Investment Advisers LLC boosted its holdings in United States Steel by 16,065.0% in the fourth quarter. FNY Investment Advisers LLC now owns 32,330 shares of the basic materials company's stock valued at $1,572,000 after acquiring an additional 32,130 shares during the last quarter. International Assets Investment Management LLC increased its position in United States Steel by 4,057.9% during the 4th quarter. International Assets Investment Management LLC now owns 747,553 shares of the basic materials company's stock valued at $36,368,000 after purchasing an additional 729,574 shares during the period. SG Americas Securities LLC raised its holdings in United States Steel by 1,132.8% during the 4th quarter. SG Americas Securities LLC now owns 115,715 shares of the basic materials company's stock worth $5,630,000 after purchasing an additional 106,329 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of United States Steel in the 4th quarter worth approximately $3,045,000. 81.92% of the stock is currently owned by institutional investors.

United States Steel Stock Down 0.8 %

United States Steel stock traded down $0.29 during mid-day trading on Thursday, reaching $35.93. The stock had a trading volume of 4,145,439 shares, compared to its average volume of 4,266,600. The firm has a market capitalization of $8.08 billion, a PE ratio of 10.62 and a beta of 2.06. United States Steel Co. has a fifty-two week low of $20.40 and a fifty-two week high of $50.20. The stock's 50-day simple moving average is $39.04 and its 200-day simple moving average is $41.92. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.71.

United States Steel (NYSE:X - Get Free Report) last issued its earnings results on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.01. The company had revenue of $4.16 billion for the quarter, compared to analysts' expectations of $4.22 billion. United States Steel had a return on equity of 10.61% and a net margin of 4.89%. On average, sell-side analysts forecast that United States Steel Co. will post 2.99 EPS for the current fiscal year.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Monday, May 13th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, May 10th. United States Steel's payout ratio is presently 5.87%.

Analysts Set New Price Targets

Several research firms have recently weighed in on X. Morgan Stanley upgraded shares of United States Steel from an "equal weight" rating to an "overweight" rating and decreased their price objective for the stock from $51.00 to $48.00 in a research report on Monday, May 6th. Jefferies Financial Group started coverage on United States Steel in a report on Monday. They set a "buy" rating and a $45.00 price target for the company. Wolfe Research upgraded United States Steel from a "peer perform" rating to an "outperform" rating and set a $46.00 target price on the stock in a research report on Tuesday, April 9th. StockNews.com started coverage on United States Steel in a report on Thursday. They issued a "hold" rating for the company. Finally, BMO Capital Markets cut their price target on United States Steel from $55.00 to $45.00 and set a "market perform" rating on the stock in a report on Tuesday, March 19th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $38.78.

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.