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

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in United States Steel Co. (NYSE:X) by 15.3% in the fourth quarter, HoldingsChannel reports. The firm owned 73,133 shares of the basic materials company’s stock after buying an additional 9,711 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in United States Steel were worth $2,486,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of X. Callan Family Office LLC purchased a new position in United States Steel during the fourth quarter worth about $214,000. Raymond James Financial Inc. purchased a new position in United States Steel during the fourth quarter worth about $2,844,000. Arizona State Retirement System boosted its stake in United States Steel by 0.8% during the fourth quarter. Arizona State Retirement System now owns 65,288 shares of the basic materials company’s stock worth $2,219,000 after buying an additional 544 shares during the period. Proficio Capital Partners LLC purchased a new position in United States Steel during the fourth quarter worth about $2,107,000. Finally, M&T Bank Corp boosted its stake in United States Steel by 19.0% during the fourth quarter. M&T Bank Corp now owns 13,878 shares of the basic materials company’s stock worth $472,000 after buying an additional 2,219 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

United States Steel Stock Up 3.8 %

Shares of NYSE:X opened at $38.94 on Monday. The firm’s 50 day moving average price is $37.09 and its 200 day moving average price is $36.64. The stock has a market cap of $8.77 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week high of $43.35. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last issued its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. As a group, equities research analysts predict that United States Steel Co. will post 1.43 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were issued a $0.05 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.20 annualized dividend and a yield of 0.51%. United States Steel’s dividend payout ratio (DPR) is 13.42%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of United States Steel from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Morgan Stanley increased their target price on shares of United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, March 7th. Jefferies Financial Group reduced their price target on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. BMO Capital Markets reduced their price target on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Finally, Bank of America started coverage on shares of United States Steel in a research report on Monday, January 6th. They set a “neutral” rating and a $35.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, United States Steel currently has a consensus rating of “Moderate Buy” and an average price target of $40.70.

United States Steel 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.