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

Norges Bank acquired a new stake in United States Steel Co. (NYSE:X - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its position in United States Steel by 36.1% during the third quarter. Cerity Partners LLC now owns 12,613 shares of the basic materials company's stock worth $446,000 after acquiring an additional 3,344 shares during the last quarter. Bank of Montreal Can grew its stake in shares of United States Steel by 16.8% during the third quarter. Bank of Montreal Can now owns 63,203 shares of the basic materials company's stock valued at $2,251,000 after acquiring an additional 9,112 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of United States Steel by 1.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,422 shares of the basic materials company's stock worth $2,241,000 after purchasing an additional 879 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in United States Steel by 646.0% during the third quarter. Rockefeller Capital Management L.P. now owns 506,694 shares of the basic materials company's stock valued at $17,902,000 after purchasing an additional 438,771 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in United States Steel by 4.8% during the 3rd quarter. Captrust Financial Advisors now owns 7,012 shares of the basic materials company's stock valued at $248,000 after purchasing an additional 321 shares during the period. Institutional investors and hedge funds own 81.92% of the company's stock.

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United States Steel Stock Performance

Shares of X traded up $0.25 during trading hours on Wednesday, hitting $42.42. The company's stock had a trading volume of 6,410,339 shares, compared to its average volume of 5,127,835. United States Steel Co. has a 52-week low of $26.92 and a 52-week high of $44.87. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 1.53 and a beta of 1.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91. The business has a 50 day simple moving average of $38.75 and a two-hundred day simple moving average of $37.31.

United States Steel (NYSE:X - Get Free Report) last announced its quarterly 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%. On average, equities analysts expect that United States Steel Co. will post 1.43 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.47%. United States Steel's dividend payout ratio is currently 13.42%.

Analyst Ratings Changes

A number of research analysts recently commented on X shares. Bank of America began 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 objective on the stock. Morgan Stanley lifted 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. Jefferies Financial Group cut their price target on United States Steel from $45.00 to $40.00 and set a "buy" rating for the company in a report on Monday, January 6th. BMO Capital Markets reissued a "market perform" rating and issued a $45.00 price target on shares of United States Steel in a report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on 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 given a buy rating to the stock. Based on data from MarketBeat.com, United States Steel currently has a consensus rating of "Moderate Buy" and an average target price of $41.32.

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.