Norges Bank Acquires Shares of 1,237,608 United States Steel Co. (X)

Norges Bank acquired a new position in United States Steel Co. (NYSE:X) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,237,608 shares of the basic materials company’s stock, valued at approximately $40,853,000. Norges Bank owned 0.72% of United States Steel as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of X. BlackRock Fund Advisors increased its position in United States Steel by 19.8% in the third quarter. BlackRock Fund Advisors now owns 6,193,405 shares of the basic materials company’s stock worth $116,808,000 after buying an additional 1,025,132 shares during the period. Renaissance Technologies LLC increased its position in shares of United States Steel by 68.8% in the fourth quarter. Renaissance Technologies LLC now owns 5,655,000 shares of the basic materials company’s stock worth $186,672,000 after buying an additional 2,305,300 shares during the period. Dimensional Fund Advisors LP increased its position in shares of United States Steel by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,710,071 shares of the basic materials company’s stock worth $155,500,000 after buying an additional 161,647 shares during the period. United States Steel & Carnegie Pension Fund purchased a new position in shares of United States Steel during the third quarter worth approximately $70,982,000. Finally, Gallagher Fiduciary Advisors LLC purchased a new position in shares of United States Steel during the fourth quarter worth approximately $124,238,000. Institutional investors and hedge funds own 77.18% of the company’s stock.

Institutional Ownership by Quarter for United States Steel (NYSE:X)

Shares of United States Steel Co. (NYSE:X) traded down 0.29% during midday trading on Friday, hitting $30.42. 19,580,315 shares of the company traded hands. United States Steel Co. has a 52 week low of $12.77 and a 52 week high of $41.83. The stock has a 50 day moving average of $34.01 and a 200-day moving average of $31.16. The stock’s market capitalization is $5.30 billion. United States Steel also was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 11,788 call options on the stock. This represents an increase of approximately 104% compared to the average volume of 5,788 call options.

United States Steel (NYSE:X) last issued its earnings results on Tuesday, January 31st. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.26. United States Steel had a negative net margin of 4.29% and a negative return on equity of 11.36%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter last year, the business earned ($0.23) earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. Equities analysts forecast that United States Steel Co. will post $2.93 earnings per share for the current fiscal year.

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A number of brokerages have recently commented on X. Longbow Research began coverage on shares of United States Steel in a research report on Wednesday, April 12th. They issued a “neutral” rating for the company. Vetr downgraded shares of United States Steel from a “strong-buy” rating to a “buy” rating and set a $38.38 price objective for the company. in a research report on Tuesday, April 11th. Cowen and Company restated an “outperform” rating and set a $60.00 target price on shares of United States Steel in a research note on Monday, April 3rd. Jefferies Group LLC raised their target price on shares of United States Steel from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, March 30th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $46.00 target price (up previously from $39.00) on shares of United States Steel in a research note on Wednesday, March 22nd. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. United States Steel currently has a consensus rating of “Hold” and an average price target of $35.21.

About United States Steel

United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).

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