United States Steel (NYSE:X) Trading 6.5% Higher – Here’s Why

United States Steel Co. (NYSE:X)’s stock price shot up 6.5% during mid-day trading on Wednesday . The company traded as high as $41.43 and last traded at $41.43. 2,991,244 shares traded hands during trading, a decline of 33% from the average session volume of 4,434,076 shares. The stock had previously closed at $38.89.

Wall Street Analyst Weigh In

X has been the subject of several research analyst reports. Glj Research raised shares of United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price for the company in a research note on Monday, September 9th. Jefferies Financial Group lowered their target price on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a report on Thursday, September 5th. BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective for the company in a report on Friday, September 6th. Morgan Stanley upped their target price on shares of United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Finally, BMO Capital Markets dropped their price target on United States Steel from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.80.

United States Steel Trading Down 1.8 %

The company has a debt-to-equity ratio of 0.35, a current ratio of 1.67 and a quick ratio of 1.08. The stock’s fifty day simple moving average is $37.78 and its 200-day simple moving average is $37.85. The firm has a market cap of $8.96 billion, a PE ratio of 26.79 and a beta of 1.86.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.15. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the company earned $1.36 EPS. United States Steel’s quarterly revenue was down 13.0% on a year-over-year basis. On average, sell-side analysts forecast that United States Steel Co. will post 2.21 earnings per share for the current year.

United States Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.50%. United States Steel’s payout ratio is 13.16%.

Institutional Investors Weigh In On United States Steel

Institutional investors have recently modified their holdings of the business. Rothschild Investment LLC purchased a new position in shares of United States Steel during the 2nd quarter valued at approximately $26,000. Palouse Capital Management Inc. purchased a new position in United States Steel during the third quarter valued at $35,000. Gladius Capital Management LP acquired a new stake in shares of United States Steel in the third quarter valued at about $39,000. Blue Trust Inc. increased its stake in shares of United States Steel by 339.0% during the second quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 773 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of United States Steel during the 2nd quarter worth about $46,000. 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.