Handelsbanken Fonder AB Has $1.19 Million Stock Holdings in United States Steel Co. (NYSE:X)

Handelsbanken Fonder AB boosted its position in United States Steel Co. (NYSE:X) by 76.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,800 shares of the basic materials company’s stock after purchasing an additional 14,600 shares during the period. Handelsbanken Fonder AB’s holdings in United States Steel were worth $1,194,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of X. Vanguard Personalized Indexing Management LLC raised its stake in shares of United States Steel by 0.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,880 shares of the basic materials company’s stock valued at $1,016,000 after acquiring an additional 241 shares during the last quarter. Diversified Trust Co lifted its holdings in United States Steel by 4.0% during the 1st quarter. Diversified Trust Co now owns 8,373 shares of the basic materials company’s stock worth $341,000 after buying an additional 324 shares during the period. Signaturefd LLC grew its position in shares of United States Steel by 8.3% in the 2nd quarter. Signaturefd LLC now owns 4,673 shares of the basic materials company’s stock valued at $177,000 after buying an additional 360 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in shares of United States Steel by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 30,529 shares of the basic materials company’s stock valued at $1,154,000 after buying an additional 405 shares during the period. Finally, Creative Planning increased its stake in shares of United States Steel by 3.2% in the second quarter. Creative Planning now owns 17,980 shares of the basic materials company’s stock valued at $680,000 after buying an additional 556 shares during the period. 81.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on X shares. Morgan Stanley upped their target price on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. BNP Paribas raised shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research note on Friday, September 6th. Jefferies Financial Group lowered their target price on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. raised shares of United States Steel from a “neutral” rating to an “overweight” rating and upped their price target for the company from $40.00 to $42.00 in a research report on Monday, September 9th. Finally, 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 report on Monday, September 9th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, United States Steel has an average rating of “Moderate Buy” and an average price target of $40.62.

United States Steel Price Performance

Shares of NYSE X opened at $36.61 on Friday. The firm has a market capitalization of $8.23 billion, a P/E ratio of 10.74 and a beta of 1.87. The firm’s 50-day moving average price is $37.11 and its 200-day moving average price is $38.03. 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 Co. has a 1-year low of $26.92 and a 1-year high of $50.20.

United States Steel (NYSE:X) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the business earned $1.92 EPS. The firm’s revenue for the quarter was down 17.8% on a year-over-year basis. Equities research analysts anticipate that United States Steel Co. will post 2.18 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, September 11th. Investors of record on Monday, August 12th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Monday, August 12th. United States Steel’s dividend payout ratio is currently 5.87%.

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.