Swiss National Bank Cuts Position in United States Steel Co. (NYSE:X)

Swiss National Bank lowered its position in shares of United States Steel Co. (NYSE:X) by 11.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 439,400 shares of the basic materials company’s stock after selling 58,400 shares during the quarter. Swiss National Bank owned about 0.20% of United States Steel worth $21,377,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in United States Steel by 6.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,001 shares of the basic materials company’s stock valued at $2,046,000 after purchasing an additional 4,016 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of United States Steel by 6.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,243,678 shares of the basic materials company’s stock valued at $40,395,000 after buying an additional 77,225 shares during the period. Allspring Global Investments Holdings LLC lifted its position in United States Steel by 49.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 24,633 shares of the basic materials company’s stock worth $800,000 after acquiring an additional 8,205 shares in the last quarter. Arete Wealth Advisors LLC acquired a new stake in United States Steel in the third quarter valued at approximately $849,000. Finally, Psagot Value Holdings Ltd. Israel purchased a new stake in shares of United States Steel during the third quarter valued at approximately $194,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on X. Morgan Stanley raised shares of United States Steel from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $51.00 to $48.00 in a report on Monday. BMO Capital Markets dropped their target price on United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 19th. JPMorgan Chase & Co. reduced their price target on United States Steel from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. StockNews.com began coverage on United States Steel in a report on Tuesday. They set a “hold” rating on the stock. Finally, Wolfe Research upgraded United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 target price for the company in a research note on Tuesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $38.00.

United States Steel Stock Performance

United States Steel stock opened at $38.36 on Thursday. The company has a fifty day moving average price of $40.92 and a two-hundred day moving average price of $41.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.71 and a quick ratio of 1.14. United States Steel Co. has a 12 month low of $20.40 and a 12 month high of $50.20. The company has a market cap of $8.63 billion, a PE ratio of 11.25 and a beta of 2.06.

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Monday, May 13th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.20 annualized dividend and a yield of 0.52%. United States Steel’s dividend payout ratio (DPR) is 5.87%.

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.