United States Steel (NYSE:X) Reaches New 1-Year High – Still a Buy?

United States Steel Co. (NYSE:X)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $43.40 and last traded at $43.24, with a volume of 301414 shares trading hands. The stock had previously closed at $43.00.

Wall Street Analyst Weigh In

A number of brokerages recently commented on X. JPMorgan Chase & Co. upped their target price on United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. Bank of America assumed coverage on United States Steel in a research report on Monday, January 6th. They issued a “neutral” rating and a $35.00 price objective on the stock. BMO Capital Markets lifted their target price on shares of United States Steel from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, March 21st. Jefferies Financial Group lowered their price target 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. Finally, 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 report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.32.

United States Steel Trading Up 1.3 %

The firm has a market cap of $9.81 billion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86. The company’s 50-day moving average price is $38.11 and its 200-day moving average price is $36.99. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. Equities analysts expect that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.46%. The ex-dividend date was Monday, February 10th. United States Steel’s dividend payout ratio is currently 13.42%.

Hedge Funds Weigh In On United States Steel

Hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its position in United States Steel by 1.8% during the fourth quarter. Wellington Management Group LLP now owns 216,382 shares of the basic materials company’s stock worth $7,355,000 after buying an additional 3,837 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of United States Steel in the 4th quarter valued at approximately $554,000. Forum Financial Management LP lifted its stake in United States Steel by 7.5% during the fourth quarter. Forum Financial Management LP now owns 7,051 shares of the basic materials company’s stock worth $240,000 after purchasing an additional 490 shares in the last quarter. Inspire Trust Co. N.A. purchased a new position in United States Steel during the 4th quarter valued at about $1,292,000. Finally, Wexford Capital LP increased its stake in United States Steel by 193.7% during the 4th quarter. Wexford Capital LP now owns 443,951 shares of the basic materials company’s stock worth $15,090,000 after buying an additional 292,811 shares during the period. 81.92% of the stock is owned by hedge funds and other institutional investors.

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.