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

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of United States Steel Co. (NYSE:X) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,422 shares of the basic materials company’s stock after acquiring an additional 879 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in United States Steel were worth $2,241,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. increased its stake in shares of United States Steel by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,600,708 shares of the basic materials company’s stock worth $91,883,000 after buying an additional 28,293 shares during the last quarter. Water Island Capital LLC increased its position in shares of United States Steel by 5.3% in the 2nd quarter. Water Island Capital LLC now owns 906,092 shares of the basic materials company’s stock worth $34,250,000 after purchasing an additional 45,567 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of United States Steel in the 3rd quarter worth about $608,000. KGH Ltd grew its stake in United States Steel by 68.2% in the second quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock worth $160,839,000 after purchasing an additional 1,724,670 shares in the last quarter. Finally, Quest Partners LLC grew its stake in United States Steel by 103.4% in the third quarter. Quest Partners LLC now owns 27,248 shares of the basic materials company’s stock worth $963,000 after purchasing an additional 13,849 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

X has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised United States Steel from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $42.00 in a report on Monday, September 9th. Jefferies Financial Group reduced their price objective on United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Morgan Stanley boosted 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. BNP Paribas upgraded shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Friday, September 6th. Finally, BMO Capital Markets lowered their price objective on shares of United States Steel from $45.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, United States Steel currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.80.

United States Steel Stock Down 8.0 %

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

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

United States Steel Dividend Announcement

The firm 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 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Friday, November 8th. United States Steel’s payout ratio is currently 13.16%.

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.