Handelsbanken Fonder AB Increases Stake in United States Steel Co.

Handelsbanken Fonder AB has significantly increased its investment in United States Steel Co. (NYSE:X) during the third quarter, as noted in their latest 13F filing with the Securities and Exchange Commission. The firm boosted its holdings by an impressive 76%, bringing the total number of shares owned to 33,800 after adding 14,600 new shares during this period. As of the end of the third quarter, Handelsbanken Fonder AB’s investments in United States Steel were valued at approximately $1.19 million.

Other institutional investors have also made notable moves regarding United States Steel's shares. For instance, Vanguard Personalized Indexing Management LLC raised its ownership by 0.9% during the second quarter, now holding 26,880 shares valued at around $1.016 million after acquiring an additional 241 shares. Similarly, Diversified Trust Co increased its stake by 4% in the first quarter, now owning 8,373 shares valued at $341,000 after a purchase of 324 shares. Additionally, Signaturefd LLC expanded its position by 8.3% in the second quarter, reaching 4,673 shares worth $177,000. SummerHaven Investment Management LLC added 405 shares, raising their stake by 1.3% to a total of 30,529 shares valued at $1.154 million. Creative Planning also increased its holdings by 3.2%, owning 17,980 shares worth $680,000 after acquiring an additional 556 shares. Overall, institutional investors now control approximately 81.92% of all United States Steel stock.

Analyst Opinions on United States Steel

Market analysts have recently shared their perspectives on United States Steel’s stock performance. Morgan Stanley raised its price target from $48.00 to $49.00 and rated the stock as “overweight.” Likewise, BNP Paribas upgraded its rating from “neutral” to “outperform,” setting a price objective of $40.00 for the shares. Contrarily, Jefferies Financial Group lowered its target from $47.00 to $41.00, maintaining a “buy” rating. On September 9th, JPMorgan Chase & Co. also changed its stance, upgrading the shares from “neutral” to “overweight” and boosting the price target from $40.00 to $42.00. Glj Research further revised their outlook, upgrading the stock from “sell” to “buy” with a price objective of $38.57. A total of four analysts currently rate the stock as a hold, while seven analysts recommend buying. According to MarketBeat data, United States Steel holds an average rating of “Moderate Buy” and an average price target of $40.62.

United States Steel Stock Performance

As of the latest trading session, shares of United States Steel (NYSE:X) opened at $36.61. The company boasts a market capitalization of $8.23 billion, a P/E ratio of 10.74, and a beta of 1.87. The 50-day moving average price stands at $37.11, while the 200-day moving average price is $38.03. Financial indicators include a current ratio of 1.72, a quick ratio of 1.14, and a debt-to-equity ratio of 0.36. The stock has fluctuated within a 1-year low of $26.92 and a high of $50.20.

United States Steel recently reported its earnings on August 1st, showcasing a quarterly earnings per share (EPS) of $0.84, which surpassed analysts’ consensus estimate of $0.72 by $0.12. The company's return on equity stands at 7.93%, with a net margin of 3.40%. For the quarter, United States Steel generated $4.12 billion in revenue, slightly above the expected $4.01 billion. However, compared to the same period last year, revenue showed a decline of 17.8%. Analysts predict that United States Steel will achieve an EPS of 2.18 for the ongoing fiscal year.

Dividend Announcement from United States Steel

The company recently declared a quarterly dividend, which was disbursed on September 11th. Shareholders on record as of August 12th received a dividend of $0.05, translating to an annualized dividend of $0.20 and yielding 0.55%. The ex-dividend date was also set for August 12th, with the payout ratio currently at 5.87%.

Overview of United States Steel Corporation

United States Steel Corporation primarily engages in the production and sale of flat-rolled and tubular steel products, focusing on markets in North America and Europe. The company operates through various segments, including North American Flat-Rolled, Mini Mill, U. S. Steel Europe, and Tubular Products. The Flat-Rolled segment specializes in items such as slabs, strip mill plates, sheets, and tin mill products, as well as complementary offerings like iron ore and coke.

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