Handelsbanken Fonder AB Buys 14,600 Shares of United States Steel Co. (NYSE:X)

Handelsbanken Fonder AB raised its stake in United States Steel Co. (NYSE:X) by 76.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 33,800 shares of the basic materials company’s stock after buying an additional 14,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in United States Steel were worth $1,194,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Scarborough Advisors LLC purchased a new stake in shares of United States Steel in the fourth quarter valued at about $49,000. Pineridge Advisors LLC purchased a new position in United States Steel during the fourth quarter worth about $44,000. Kapitalo Investimentos Ltda grew its position in United States Steel by 541.8% in the 4th quarter. Kapitalo Investimentos Ltda now owns 45,980 shares of the basic materials company’s stock worth $2,237,000 after purchasing an additional 38,816 shares in the last quarter. Syquant Capital Sas purchased a new stake in United States Steel in the 1st quarter valued at about $1,989,000. Finally, Rise Advisors LLC lifted its position in shares of United States Steel by 31.0% during the 1st quarter. Rise Advisors LLC now owns 2,608 shares of the basic materials company’s stock worth $106,000 after buying an additional 617 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.

United States Steel Stock Performance

Shares of X stock opened at $36.61 on Friday. The firm’s 50 day moving average is $37.11 and its 200 day moving average is $38.03. The stock has a market capitalization of $8.23 billion, a P/E ratio of 10.74 and a beta of 1.87. United States Steel Co. has a 12 month low of $26.92 and a 12 month high of $50.20. The company has a current ratio of 1.72, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.12. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.01 billion. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The business’s quarterly revenue was down 17.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.92 earnings per share. On average, sell-side analysts anticipate that United States Steel Co. will post 2.18 earnings per share for the current year.

United States Steel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 12th were 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 of this dividend was Monday, August 12th. United States Steel’s payout ratio is presently 5.87%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on X shares. BMO Capital Markets raised United States Steel from a “market perform” rating to an “outperform” rating and upped their target price for the company from $43.00 to $45.00 in a report on Wednesday, June 26th. StockNews.com initiated coverage on United States Steel in a research note on Monday, August 19th. They issued a “hold” rating for the company. BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 target price on the stock in a research note on Friday, September 6th. JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $40.00 to $42.00 in a report on Monday, September 9th. Finally, Morgan Stanley raised their price objective on shares of United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $40.62.

United States Steel Company 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.