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

KLP Kapitalforvaltning AS bought a new stake in United States Steel Co. (NYSE:X - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 45,200 shares of the basic materials company's stock, valued at approximately $1,536,000.

A number of other large investors have also modified their holdings of the stock. Lee Danner & Bass Inc. acquired a new position in United States Steel in the 4th quarter worth $32,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of 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 worth $1,690,000 after acquiring an additional 412 shares during the last quarter. Xponance Inc. increased its position in shares of United States Steel by 11.8% during the fourth quarter. Xponance Inc. now owns 27,838 shares of the basic materials company's stock worth $946,000 after acquiring an additional 2,933 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of 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 acquiring an additional 6,707 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC purchased a new position in United States Steel in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 81.92% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. 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 objective on the stock. JPMorgan Chase & Co. lifted their price target on shares of United States Steel from $40.00 to $43.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 11th. Morgan Stanley increased their price objective on shares of United States Steel from $39.00 to $43.00 and gave the company an "equal weight" rating in a research note on Friday, March 7th. BMO Capital Markets reissued a "market perform" rating and issued a $45.00 target price on shares of United States Steel in a research report on Monday. Finally, Jefferies Financial Group reduced their price target on shares of United States Steel from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $41.32.

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United States Steel Stock Performance

Shares of United States Steel stock traded up $0.25 during trading hours on Wednesday, reaching $42.42. The company's stock had a trading volume of 6,410,339 shares, compared to its average volume of 5,127,840. United States Steel Co. has a one year low of $26.92 and a one year high of $44.87. The company's 50 day simple moving average is $38.87 and its 200 day simple moving average is $37.34. 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 stock has a market cap of $9.60 billion, a P/E ratio of 28.47, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86.

United States Steel (NYSE:X - Get Free Report) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (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%. As a group, analysts expect that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Announces Dividend

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