United States Steel (NYSE:X) Stock Price Up 4.1% – What’s Next?

Shares of United States Steel Co. (NYSE:X) were up 4.1% during mid-day trading on Tuesday . The company traded as high as $41.62 and last traded at $41.75. Approximately 3,828,348 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 4,906,090 shares. The stock had previously closed at $40.11.

Analyst Upgrades and Downgrades

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

United States Steel Trading Up 4.0 %

The stock has a market cap of $9.39 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 1.53 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. The business’s fifty day simple moving average is $37.24 and its 200 day simple moving average is $36.66.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share 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, analysts expect that United States Steel Co. will post 1.43 EPS for the current year.

United States Steel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, February 10th. United States Steel’s dividend payout ratio (DPR) is presently 13.42%.

Institutional Trading of United States Steel

Several institutional investors and hedge funds have recently added to or reduced their stakes in X. Norges Bank acquired a new stake in shares of United States Steel during the 4th quarter worth approximately $130,731,000. Castle Hook Partners LP bought a new stake in shares of United States Steel during the 3rd quarter valued at $91,712,000. Forest Avenue Capital Management LP bought a new stake in shares of United States Steel during the 4th quarter valued at $50,795,000. Holocene Advisors LP acquired a new position in shares of United States Steel in the 3rd quarter valued at $51,620,000. Finally, NWI Management LP bought a new position in shares of United States Steel in the 4th quarter worth $48,946,000. 81.92% of the stock is owned by institutional investors.

About United States Steel

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.