Zurcher Kantonalbank Zurich Cantonalbank Purchases 4,944 Shares of United States Steel Co. (NYSE:X)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of United States Steel Co. (NYSE:X) by 7.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,945 shares of the basic materials company’s stock after acquiring an additional 4,944 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in United States Steel were worth $3,306,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in X. Wolff Wiese Magana LLC raised its position in shares of United States Steel by 181.4% during the third quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company’s stock valued at $32,000 after buying an additional 635 shares during the last quarter. Fifth Third Bancorp raised its position in shares of United States Steel by 60.8% during the third quarter. Fifth Third Bancorp now owns 1,270 shares of the basic materials company’s stock valued at $41,000 after buying an additional 480 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of United States Steel during the fourth quarter valued at approximately $97,000. Trust Co. of Vermont bought a new stake in shares of United States Steel during the third quarter valued at approximately $65,000. Finally, CWM LLC raised its position in shares of United States Steel by 51.1% during the third quarter. CWM LLC now owns 2,828 shares of the basic materials company’s stock valued at $92,000 after buying an additional 957 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on X. Wolfe Research upgraded shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a research report on Tuesday, April 9th. Morgan Stanley lowered shares of United States Steel from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $40.00 to $51.00 in a research note on Thursday, February 15th. StockNews.com began coverage on shares of United States Steel in a research note on Sunday. They set a “hold” rating for the company. BMO Capital Markets lowered their target price on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a research note on Tuesday, March 19th. Finally, JPMorgan Chase & Co. began coverage on shares of United States Steel in a research note on Friday, January 12th. They set a “neutral” rating and a $52.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $37.89.

United States Steel Stock Up 0.6 %

NYSE:X opened at $38.84 on Tuesday. United States Steel Co. has a 1-year low of $20.40 and a 1-year high of $50.20. The company has a 50-day moving average of $43.12 and a 200 day moving average of $41.33. The firm has a market cap of $8.73 billion, a PE ratio of 11.07 and a beta of 2.01. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.76 and a quick ratio of 1.22.

United States Steel (NYSE:X) last released its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.46. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. The company had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same period in the prior year, the firm earned $0.87 earnings per share. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. As a group, research analysts anticipate that United States Steel Co. will post 3.18 EPS for the current fiscal year.

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 12th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Friday, February 9th. United States Steel’s dividend payout ratio (DPR) is presently 5.70%.

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.