Norges Bank Purchases New Position in United States Steel Co. (NYSE:X)

Norges Bank bought a new position in United States Steel Co. (NYSE:X) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,130,556 shares of the basic materials company’s stock, valued at approximately $200,952,000. Norges Bank owned about 1.85% of United States Steel at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of United States Steel during the 4th quarter valued at $25,000. GAMMA Investing LLC bought a new position in United States Steel during the 4th quarter valued at about $33,000. Fifth Third Bancorp grew its holdings in United States Steel by 60.8% during the 3rd quarter. Fifth Third Bancorp now owns 1,270 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 480 shares during the last quarter. Rakuten Securities Inc. bought a new position in United States Steel during the 4th quarter valued at about $53,000. Finally, Trust Co. of Vermont purchased a new stake in United States Steel in the 3rd quarter valued at about $65,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

United States Steel Stock Performance

Shares of NYSE X opened at $36.22 on Thursday. The company’s fifty day moving average price is $39.04 and its 200 day moving average price is $41.92. United States Steel Co. has a 1 year low of $20.40 and a 1 year high of $50.20. The company has a market capitalization of $8.14 billion, a PE ratio of 10.62 and a beta of 2.06. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.71.

United States Steel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Monday, May 13th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Friday, May 10th. United States Steel’s dividend payout ratio (DPR) is presently 5.87%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Jefferies Financial Group initiated coverage on shares of United States Steel in a research report on Monday. They issued a “buy” rating and a $45.00 price objective for the company. Wolfe Research upgraded shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective for the company in a research note on Tuesday, April 9th. StockNews.com assumed coverage on shares of United States Steel in a research note on Thursday. They set a “hold” rating for the company. BMO Capital Markets cut their price target on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 19th. Finally, Morgan Stanley upgraded shares of United States Steel from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $51.00 to $48.00 in a research note on Monday, May 6th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, United States Steel has an average rating of “Hold” and an average price target of $38.78.

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.