Stock Traders Purchase High Volume of United States Steel Call Options (NYSE:X)

United States Steel Co. (NYSE:X) was the target of unusually large options trading activity on Wednesday. Stock traders purchased 84,572 call options on the company. This represents an increase of 86% compared to the average daily volume of 45,357 call options.

Analyst Ratings Changes

A number of brokerages have weighed in on X. BMO Capital Markets decreased their price target on United States Steel from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Jefferies Financial Group reduced their price objective on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Glj Research upgraded United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price on the stock in a report on Monday, September 9th. Morgan Stanley upped their price objective on shares of United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, BNP Paribas upgraded shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective for the company in a report on Friday, September 6th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.80.

United States Steel Stock Performance

Shares of NYSE X traded up $2.66 during midday trading on Wednesday, hitting $41.55. 4,692,843 shares of the stock traded hands, compared to its average volume of 4,440,177. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.08 and a current ratio of 1.67. United States Steel has a one year low of $26.92 and a one year high of $50.20. The firm has a market capitalization of $9.36 billion, a P/E ratio of 27.26 and a beta of 1.86. The firm has a 50-day moving average of $37.56 and a two-hundred day moving average of $37.82.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the business posted $1.36 earnings per share. The business’s quarterly revenue was down 13.0% on a year-over-year basis. On average, equities analysts forecast that United States Steel will post 2.21 EPS for the current fiscal year.

United States Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Friday, November 8th. United States Steel’s dividend payout ratio (DPR) is 13.16%.

Institutional Investors Weigh In On United States Steel

Several large investors have recently modified their holdings of X. Rothschild Investment LLC purchased a new stake in United States Steel in the second quarter valued at about $26,000. Palouse Capital Management Inc. acquired a new stake in shares of United States Steel during the third quarter worth $35,000. Gladius Capital Management LP purchased a new stake in shares of United States Steel during the third quarter valued at $39,000. Blue Trust Inc. increased 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 acquiring an additional 773 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in United States Steel in the 2nd quarter worth $46,000. 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.