E. Ohman J or Asset Management AB Acquires New Position in United States Steel Co. (NYSE:X)

E. Ohman J or Asset Management AB bought a new position in shares of United States Steel Co. (NYSE:X) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 526,826 shares of the basic materials company’s stock, valued at approximately $17,907,000. E. Ohman J or Asset Management AB owned about 0.23% of United States Steel at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of X. Empirical Asset Management LLC acquired a new position in shares of United States Steel in the 4th quarter valued at $525,000. ARS Investment Partners LLC purchased a new position in shares of United States Steel in the fourth quarter worth about $15,510,000. Rockefeller Capital Management L.P. lifted its holdings in shares of United States Steel by 646.0% during the third quarter. Rockefeller Capital Management L.P. now owns 506,694 shares of the basic materials company’s stock worth $17,902,000 after purchasing an additional 438,771 shares during the period. Geode Capital Management LLC boosted its position in United States Steel by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,839,684 shares of the basic materials company’s stock valued at $135,691,000 after buying an additional 37,528 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in United States Steel by 1.1% in the 3rd 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 period. Institutional investors and hedge funds own 81.92% of the company’s stock.

Analyst Upgrades and Downgrades

X has been the subject of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of United States Steel from $44.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. BMO Capital Markets decreased their target price on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. Bank of America initiated coverage on 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. Morgan Stanley reissued an “equal weight” rating and issued a $39.00 price objective on shares of United States Steel in a report on Monday. Finally, Jefferies Financial Group lowered their target price on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.82.

United States Steel Stock Performance

X opened at $36.48 on Tuesday. The firm has a market capitalization of $8.21 billion, a PE ratio of 24.48 and a beta of 1.86. The company has a current ratio of 1.55, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. United States Steel Co. has a twelve month low of $26.92 and a twelve month high of $48.13. The firm’s 50-day moving average price is $35.24 and its 200 day moving average price is $37.02.

United States Steel (NYSE:X) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, sell-side analysts expect that United States Steel Co. will post 1.75 EPS for the current fiscal year.

United States Steel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. United States Steel’s dividend payout ratio is currently 13.42%.

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.