United States Steel (NYSE:X) Stock Price Up 3.8% – What’s Next?

United States Steel Co. (NYSE:X)’s stock price was up 3.8% during mid-day trading on Tuesday . The company traded as high as $42.60 and last traded at $42.73. Approximately 3,162,966 shares traded hands during trading, a decline of 36% from the average daily volume of 4,950,606 shares. The stock had previously closed at $41.15.

Analysts Set New Price Targets

Several equities research analysts recently commented on X shares. Morgan Stanley lifted 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. BMO Capital Markets boosted their price objective on shares of United States Steel from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday. JPMorgan Chase & Co. raised their target price on shares of United States Steel from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. Jefferies Financial Group dropped their target price on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Bank of America began coverage on United States Steel in a research note on Monday, January 6th. They issued a “neutral” rating and a $35.00 price objective for the company. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.32.

United States Steel Trading Up 4.8 %

The stock has a market cap of $9.72 billion, a P/E ratio of 28.95, a P/E/G ratio of 1.53 and a beta of 1.86. The stock’s fifty day moving average is $37.97 and its 200 day moving average is $36.91. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55.

United States Steel (NYSE:X) last released its earnings results 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%. As a group, equities research analysts predict that United States Steel Co. will post 1.43 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend 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

A number of institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. lifted its stake in United States Steel by 64.0% in the fourth quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 277 shares during the period. Ameliora Wealth Management Ltd. bought a new stake in shares of United States Steel in the 4th quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new stake in shares of United States Steel in the 4th quarter worth approximately $30,000. Parkworth Wealth Management Inc. bought a new position in shares of United States Steel during the fourth quarter valued at approximately $31,000. Finally, Lee Danner & Bass Inc. purchased a new position in United States Steel during the fourth quarter valued at approximately $32,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

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.