Traders Buy High Volume of Call Options on United States Steel (NYSE:X)

United States Steel Co. (NYSE:X) was the recipient of unusually large options trading on Wednesday. Stock traders acquired 159,676 call options on the stock. This represents an increase of 112% compared to the average volume of 75,327 call options.

United States Steel Stock Up 1.0 %

NYSE:X traded up $0.44 on Wednesday, reaching $42.61. The stock had a trading volume of 1,569,405 shares, compared to its average volume of 6,872,839. The company has a 50-day moving average of $38.75 and a 200 day moving average of $37.31. 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 stock has a market cap of $9.65 billion, a P/E ratio of 28.60, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86. United States Steel has a 12-month low of $26.92 and a 12-month high of $44.87.

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

United States Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend 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 currently 13.42%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on X. JPMorgan Chase & Co. lifted their price target on shares of United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Morgan Stanley raised their price objective on United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a report on Friday, March 7th. Bank of America started 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 for the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $45.00 price target on shares of United States Steel in a research report on Monday. Finally, Jefferies Financial Group reduced 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. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, United States Steel has an average rating of “Moderate Buy” and an average target price of $41.32.

Institutional Investors Weigh In On United States Steel

A number of institutional investors have recently modified their holdings of X. Empirical Asset Management LLC acquired a new stake in shares of United States Steel during the 4th quarter valued at approximately $525,000. ARS Investment Partners LLC acquired a new stake in shares of United States Steel during the fourth quarter worth $15,510,000. Geode Capital Management LLC raised its holdings in shares of United States Steel by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,839,684 shares of the basic materials company’s stock worth $135,691,000 after purchasing an additional 37,528 shares during the period. Heck Capital Advisors LLC bought a new position in shares of United States Steel in the 4th quarter worth about $554,000. Finally, Captrust Financial Advisors boosted its holdings in shares of United States Steel by 4.8% in the 3rd quarter. Captrust Financial Advisors now owns 7,012 shares of the basic materials company’s stock valued at $248,000 after buying an additional 321 shares during the period. Institutional investors and hedge funds own 81.92% of the company’s stock.

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.