Investors Buy High Volume of Put Options on United States Steel (NYSE:X)

United States Steel Co. (NYSE:X) saw some unusual options trading on Tuesday. Traders purchased 58,560 put options on the stock. This represents an increase of approximately 50% compared to the typical daily volume of 39,006 put options.

United States Steel Price Performance

United States Steel stock opened at $39.51 on Thursday. The company has a fifty day simple moving average of $36.48 and a 200-day simple moving average of $37.71. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of 17.64 and a beta of 1.87. United States Steel has a 52-week low of $26.92 and a 52-week high of $50.20.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 EPS 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 firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the business posted $1.92 earnings per share. The firm’s revenue was down 17.8% compared to the same quarter last year. On average, equities analysts anticipate that United States Steel will post 2.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on X shares. Morgan Stanley increased their target price on shares of United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. upgraded United States Steel from a “neutral” rating to an “overweight” rating and upped their target price for the company from $40.00 to $42.00 in a research report on Monday, September 9th. Jefferies Financial Group cut their price target on United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Glj Research raised shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective on the stock in a research note on Monday, September 9th. Finally, BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target for the company in a research note on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.62.

Hedge Funds Weigh In On United States Steel

Institutional investors have recently bought and sold shares of the company. Rothschild Investment LLC acquired a new position in United States Steel during the second quarter worth $26,000. Palouse Capital Management Inc. acquired a new position in United States Steel in the third quarter valued at $35,000. Blue Trust Inc. boosted its position in shares of United States Steel by 339.0% in the 2nd quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 773 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of United States Steel during the second quarter worth approximately $46,000. Finally, Headlands Technologies LLC purchased a new position in United States Steel during the 1st quarter worth $58,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

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.