United States Steel Co. (NYSE:X)’s share price dropped 7.6% during trading on Tuesday . The stock traded as low as $39.81 and last traded at $40.24. Approximately 22,794,744 shares changed hands during trading, an increase of 60% from the average daily volume of 14,263,669 shares. The stock had previously closed at $43.57.
X has been the topic of several research analyst reports. KeyCorp restated a “hold” rating on shares of United States Steel in a report on Friday, November 17th. ValuEngine upgraded shares of United States Steel from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Axiom Securities upgraded shares of United States Steel from a “sell” rating to a “hold” rating and decreased their price objective for the stock from $41.83 to $18.55 in a report on Monday, December 11th. Longbow Research upgraded shares of United States Steel from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Finally, Cowen reiterated a “hold” rating and issued a $40.00 price objective on shares of United States Steel in a report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. United States Steel has an average rating of “Buy” and an average target price of $37.00.
The firm has a market capitalization of $7,080.00, a price-to-earnings ratio of 23.40, a PEG ratio of 1.36 and a beta of 2.79. The company has a quick ratio of 1.11, a current ratio of 1.75 and a debt-to-equity ratio of 0.81.
United States Steel (NYSE:X) last released its quarterly earnings results on Wednesday, January 31st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.09. United States Steel had a net margin of 3.16% and a return on equity of 12.56%. The company had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the prior year, the company earned $0.27 earnings per share. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. equities analysts anticipate that United States Steel Co. will post 4.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 9th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Thursday, February 8th. United States Steel’s dividend payout ratio (DPR) is 11.63%.
In other United States Steel news, VP Sara A. Greenstein sold 2,613 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $45.33, for a total transaction of $118,447.29. Following the completion of the sale, the vice president now directly owns 51,250 shares in the company, valued at $2,323,162.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sara A. Greenstein sold 2,757 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $45.05, for a total transaction of $124,202.85. Following the sale, the vice president now owns 35,282 shares of the company’s stock, valued at $1,589,454.10. The disclosure for this sale can be found here. Insiders have sold 128,831 shares of company stock valued at $5,195,060 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in X. Millennium Management LLC raised its position in shares of United States Steel by 23,428.9% during the fourth quarter. Millennium Management LLC now owns 2,210,301 shares of the basic materials company’s stock valued at $77,780,000 after buying an additional 2,200,907 shares during the last quarter. Slate Path Capital LP raised its position in shares of United States Steel by 47.1% during the fourth quarter. Slate Path Capital LP now owns 3,280,000 shares of the basic materials company’s stock valued at $115,423,000 after buying an additional 1,050,000 shares during the last quarter. Prudential Financial Inc. raised its position in shares of United States Steel by 524.7% during the third quarter. Prudential Financial Inc. now owns 668,811 shares of the basic materials company’s stock valued at $17,161,000 after buying an additional 561,758 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in shares of United States Steel by 4,075.2% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 492,676 shares of the basic materials company’s stock valued at $17,335,000 after buying an additional 480,876 shares during the last quarter. Finally, CI Investments Inc. acquired a new position in shares of United States Steel during the third quarter valued at about $9,402,000. 68.34% of the stock is owned by institutional investors and hedge funds.
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United States Steel Company Profile
United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).
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