United States Steel (NYSE:X) Trading Up 3.8% – Here’s What Happened

United States Steel Co. (NYSE:X) traded up 3.8% during mid-day trading on Tuesday . The company traded as high as $42.60 and last traded at $42.73. 3,162,966 shares changed hands during trading, a decline of 36% from the average session volume of 4,950,606 shares. The stock had previously closed at $41.15.

Wall Street Analyst Weigh In

A number of research firms have weighed in on X. JPMorgan Chase & Co. increased their price objective 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 upped their price target on United States Steel from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, March 21st. Morgan Stanley lifted their price objective on shares of United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a research report on Friday, March 7th. 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 price objective for the company. Finally, Jefferies Financial Group lowered their target price on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $41.32.

United States Steel Trading Up 0.1 %

The business’s 50-day simple moving average is $38.24 and its 200-day simple moving average is $37.03. The company has a market cap of $9.73 billion, a price-to-earnings ratio of 28.86, a PEG ratio of 1.53 and a beta of 1.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91.

United States Steel (NYSE:X) last posted its 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%. Research analysts predict that United States Steel Co. will post 1.43 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, February 10th. United States Steel’s dividend payout ratio is presently 13.42%.

Hedge Funds Weigh In On United States Steel

Several institutional investors and hedge funds have recently modified their holdings of the company. Empirical Asset Management LLC acquired a new position in United States Steel during the fourth quarter worth approximately $525,000. ARS Investment Partners LLC acquired a new stake in shares of United States Steel during the 4th quarter worth $15,510,000. Rockefeller Capital Management L.P. raised its position in shares of United States Steel by 646.0% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 506,694 shares of the basic materials company’s stock worth $17,902,000 after buying an additional 438,771 shares during the period. Geode Capital Management LLC boosted its holdings 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 acquiring an additional 37,528 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in United States Steel by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,600,708 shares of the basic materials company’s stock valued at $91,883,000 after acquiring an additional 28,293 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

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.