Zurcher Kantonalbank Zurich Cantonalbank Lowers Holdings in United States Steel Co. (NYSE:X)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of United States Steel Co. (NYSE:X) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,543 shares of the basic materials company’s stock after selling 396 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in United States Steel were worth $2,364,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in X. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of United States Steel during the fourth quarter valued at approximately $25,000. Riverview Trust Co purchased a new position in United States Steel during the first quarter valued at $29,000. GAMMA Investing LLC bought a new stake in United States Steel in the 4th quarter valued at $33,000. Newbridge Financial Services Group Inc. purchased a new stake in United States Steel in the 1st quarter worth $41,000. Finally, Blue Trust Inc. lifted its stake in United States Steel by 339.0% in the 2nd quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 773 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on X. Morgan Stanley raised their price objective on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. decreased their price objective on United States Steel from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. BMO Capital Markets raised shares of United States Steel from a “market perform” rating to an “outperform” rating and raised their target price for the company from $43.00 to $45.00 in a report on Wednesday, June 26th. StockNews.com started coverage on shares of United States Steel in a research note on Monday, August 19th. They set a “hold” rating on the stock. Finally, Jefferies Financial Group began coverage on shares of United States Steel in a research report on Monday, May 20th. They set a “buy” rating and a $45.00 price objective for the company. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, United States Steel has an average rating of “Hold” and a consensus target price of $40.13.

United States Steel Stock Down 1.7 %

NYSE X opened at $37.91 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. United States Steel Co. has a 52 week low of $30.02 and a 52 week high of $50.20. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 11.12 and a beta of 1.93. The company has a fifty day moving average of $39.13 and a two-hundred day moving average of $39.91.

United States Steel (NYSE:X) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.01 billion. United States Steel had a net margin of 3.40% and a return on equity of 7.93%. The firm’s revenue for the quarter was down 17.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.92 EPS. On average, analysts predict that United States Steel Co. will post 2.19 earnings per share for the current year.

United States Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Monday, August 12th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, August 12th. United States Steel’s dividend payout ratio is currently 5.87%.

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.