Norges Bank Invests $130.73 Million in United States Steel Co. (NYSE:X)

Norges Bank purchased a new position in United States Steel Co. (NYSE:X - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,846,172 shares of the basic materials company's stock, valued at approximately $130,731,000. Norges Bank owned approximately 1.71% of United States Steel at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Ameliora Wealth Management Ltd. bought a new position in United States Steel in the fourth quarter worth approximately $27,000. ORG Wealth Partners LLC purchased a new stake in United States Steel during the 4th quarter worth approximately $30,000. Parkworth Wealth Management Inc. acquired a new position in shares of United States Steel in the 4th quarter valued at $31,000. Lee Danner & Bass Inc. purchased a new position in shares of United States Steel in the fourth quarter worth about $32,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in United States Steel during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 81.92% of the company's stock.

United States Steel Price Performance

X traded down $0.66 during trading on Friday, reaching $38.30. 9,264,572 shares of the stock were exchanged, compared to its average volume of 5,191,703. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 25.70, a P/E/G ratio of 1.53 and a beta of 1.79. United States Steel Co. has a 1 year low of $26.92 and a 1 year high of $44.87. The business's 50 day moving average price is $38.93 and its two-hundred day moving average price is $37.38. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91.

United States Steel (NYSE:X - Get Free Report) last announced its quarterly earnings data 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 net margin of 2.46% and a return on equity of 4.27%. As a group, equities research analysts anticipate that United States Steel Co. will post 1.43 earnings per share for the current year.

United States Steel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were issued a $0.05 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. United States Steel's dividend payout ratio (DPR) is presently 13.42%.

Analysts Set New Price Targets

X has been the topic of several recent research reports. Jefferies Financial Group lowered their price objective on 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. Bank of America assumed coverage on United States Steel in a research report on Monday, January 6th. They issued a "neutral" rating and a $35.00 target price on the stock. JPMorgan Chase & Co. boosted 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 report on Tuesday, March 11th. BMO Capital Markets restated a "market perform" rating and issued a $45.00 target price on shares of United States Steel in a report on Monday, March 31st. Finally, Morgan Stanley increased their price target 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. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, United States Steel presently has an average rating of "Moderate Buy" and an average 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.