United States Steel Co. (NYSE:X) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of United States Steel Co. (NYSE:X) by 1.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 63,422 shares of the basic materials company’s stock after buying an additional 879 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in United States Steel were worth $2,241,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in X. Rothschild Investment LLC bought a new stake in shares of United States Steel in the 2nd quarter worth $26,000. Palouse Capital Management Inc. bought a new stake in United States Steel in the third quarter worth about $35,000. Blue Trust Inc. lifted its holdings 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 valued at $41,000 after acquiring an additional 773 shares during the last quarter. Gladius Capital Management LP bought a new position in shares of United States Steel during the 3rd quarter valued at about $39,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of United States Steel in the 2nd quarter worth approximately $46,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

United States Steel Stock Down 8.0 %

Shares of United States Steel stock opened at $37.67 on Wednesday. United States Steel Co. has a 1 year low of $26.92 and a 1 year high of $50.20. The company has a market cap of $8.48 billion, a P/E ratio of 24.78 and a beta of 1.83. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average price of $38.16 and a 200 day moving average price of $37.95.

United States Steel (NYSE:X) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the firm earned $1.36 earnings per share. The firm’s revenue was down 13.0% compared to the same quarter last year. As a group, analysts expect that United States Steel Co. will post 2.21 EPS for the current fiscal year.

United States Steel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th 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 is Friday, November 8th. United States Steel’s dividend payout ratio (DPR) is currently 13.16%.

Analyst Ratings Changes

Several analysts recently commented on X shares. Morgan Stanley increased their target price on shares of United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective for the company in a research note on Monday, September 9th. JPMorgan Chase & Co. raised United States Steel from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $42.00 in a research report on Monday, September 9th. Jefferies Financial Group decreased their price target on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Finally, StockNews.com assumed coverage on United States Steel in a report on Monday, August 19th. They set a “hold” rating on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.80.

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.