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

United States Steel Co. (NYSE:X)’s stock price shot up 4.1% during trading on Tuesday . The stock traded as high as $41.62 and last traded at $41.75. 3,828,348 shares changed hands during trading, a decline of 22% from the average session volume of 4,906,090 shares. The stock had previously closed at $40.11.

Analysts Set New Price Targets

X has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price objective 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 target on United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday, March 7th. BMO Capital Markets dropped their price objective on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Bank of America started coverage on United States Steel in a report on Monday, January 6th. They set a “neutral” rating and a $35.00 target price on the stock. Finally, Jefferies Financial Group lowered their price target 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. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.70.

United States Steel Price Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55. The company has a fifty day moving average price of $37.58 and a two-hundred day moving average price of $36.72. The company has a market cap of $9.25 billion, a P/E ratio of 27.56, a PEG ratio of 1.53 and a beta of 1.86.

United States Steel (NYSE:X) last announced its quarterly earnings data 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, sell-side analysts anticipate that United States Steel Co. will post 1.43 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.20 annualized dividend and a yield of 0.49%. United States Steel’s dividend payout ratio (DPR) is presently 13.42%.

Institutional Investors Weigh In On United States Steel

Hedge funds and other institutional investors have recently made changes to their positions in the business. Empirical Asset Management LLC acquired a new position in United States Steel during the fourth quarter valued at approximately $525,000. ARS Investment Partners LLC bought a new stake in shares of United States Steel during the 4th quarter worth $15,510,000. Rockefeller Capital Management L.P. boosted its stake in United States Steel by 646.0% in the third quarter. Rockefeller Capital Management L.P. now owns 506,694 shares of the basic materials company’s stock valued at $17,902,000 after buying an additional 438,771 shares in the last quarter. Geode Capital Management LLC grew its position 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. raised its stake 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 worth $91,883,000 after acquiring an additional 28,293 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

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.