United States Steel Co. (NYSE:X) Shares Acquired by Bank of Nova Scotia

Bank of Nova Scotia increased its holdings in United States Steel Co. (NYSE:X - Free Report) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 293,447 shares of the basic materials company's stock after purchasing an additional 18,386 shares during the period. Bank of Nova Scotia owned approximately 0.13% of United States Steel worth $9,974,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Ameliora Wealth Management Ltd. acquired a new stake in shares of United States Steel in the fourth quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new stake in United States Steel in the 4th quarter valued at approximately $30,000. Parkworth Wealth Management Inc. bought a new position in United States Steel in the 4th quarter worth approximately $31,000. Lee Danner & Bass Inc. acquired a new position in shares of United States Steel during the fourth quarter worth approximately $32,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of United States Steel in the fourth quarter valued at approximately $34,000. 81.92% of the stock is owned by institutional investors and hedge funds.

United States Steel Stock Up 2.2 %

Shares of NYSE X traded up $0.87 during trading on Monday, hitting $40.93. 4,445,559 shares of the company traded hands, compared to its average volume of 5,421,337. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week high of $46.18. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 1.53 and a beta of 1.79. The business's fifty day moving average is $39.85 and its 200 day moving average is $37.65. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55.

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United States Steel (NYSE:X - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. Equities research analysts predict that United States Steel Co. will post 1.43 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were paid a $0.05 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.49%. United States Steel's payout ratio is currently 13.42%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on X. Jefferies Financial Group cut their target price on United States Steel from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Bank of America initiated coverage on shares of United States Steel in a report on Monday, January 6th. They set a "neutral" rating and a $35.00 price objective for the company. BMO Capital Markets reissued a "market perform" rating and issued a $45.00 target price on shares of United States Steel in a research note on Monday, March 31st. Morgan Stanley raised their price target 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. Finally, JPMorgan Chase & Co. upped their price objective on United States Steel from $40.00 to $43.00 and gave the company an "overweight" rating in a research note on Tuesday, March 11th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $40.65.

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.