Cowen reissued their hold rating on shares of United States Steel (NYSE:X) in a research report sent to investors on Thursday. Cowen currently has a $40.00 price target on the basic materials company’s stock.
Several other research firms have also commented on X. Macquarie started coverage on shares of United States Steel in a research report on Wednesday, September 6th. They issued an outperform rating and a $31.00 price target on the stock. ValuEngine upgraded shares of United States Steel from a hold rating to a buy rating in a research report on Sunday, December 31st. Bank of America set a $32.00 target price on shares of United States Steel and gave the stock a buy rating in a research report on Friday, October 20th. BMO Capital Markets restated a market perform rating on shares of United States Steel in a research report on Friday, September 8th. Finally, Citigroup raised their target price on shares of United States Steel from $20.00 to $22.00 and gave the stock a sell rating in a research report on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $30.32.
Shares of United States Steel (NYSE:X) traded up $0.10 during trading on Thursday, reaching $37.99. 6,530,000 shares of the company’s stock were exchanged, compared to its average volume of 9,710,000. United States Steel has a 12 month low of $18.55 and a 12 month high of $41.83. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.23 and a current ratio of 1.89. The stock has a market capitalization of $6,650.00, a PE ratio of 55.87 and a beta of 3.00.
The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 10th were issued a $0.05 dividend. The ex-dividend date was Thursday, November 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. United States Steel’s dividend payout ratio (DPR) is presently 29.41%.
In other news, insider Richard Fruehauf sold 5,959 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $30.00, for a total value of $178,770.00. Following the transaction, the insider now owns 7,960 shares of the company’s stock, valued at approximately $238,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP David J. Rintoul sold 17,640 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $36.57, for a total transaction of $645,094.80. Following the completion of the transaction, the senior vice president now directly owns 63,449 shares in the company, valued at approximately $2,320,329.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,698 shares of company stock worth $2,535,286. 1.00% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in United States Steel by 0.4% during the 2nd quarter. BlackRock Inc. now owns 14,343,698 shares of the basic materials company’s stock worth $317,570,000 after buying an additional 63,943 shares during the period. Amerigo Asset Management bought a new stake in shares of United States Steel in the 3rd quarter worth about $158,558,000. State Street Corp increased its position in shares of United States Steel by 6.2% in the 2nd quarter. State Street Corp now owns 5,889,434 shares of the basic materials company’s stock worth $130,394,000 after purchasing an additional 341,591 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of United States Steel by 7.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,245,149 shares of the basic materials company’s stock worth $71,851,000 after purchasing an additional 236,714 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of United States Steel by 2.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,970,333 shares of the basic materials company’s stock worth $50,558,000 after purchasing an additional 41,931 shares during the last quarter. 64.22% of the stock is currently owned by hedge funds and other institutional investors.
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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