United States Steel (NYSE:X) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of United States Steel (NYSE:X) in a research note released on Tuesday. The firm issued a hold rating on the basic materials company’s stock.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley upgraded United States Steel from an equal weight rating to an overweight rating and reduced their target price for the stock from $51.00 to $48.00 in a report on Monday. JPMorgan Chase & Co. decreased their price objective on shares of United States Steel from $47.00 to $43.00 and set a neutral rating for the company in a report on Friday, May 3rd. BMO Capital Markets cut their target price on shares of United States Steel from $55.00 to $45.00 and set a market perform rating on the stock in a report on Tuesday, March 19th. Finally, Wolfe Research raised shares of United States Steel from a peer perform rating to an outperform rating and set a $46.00 price target for the company in a report on Tuesday, April 9th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $38.00.

United States Steel Stock Up 0.2 %

Shares of NYSE X opened at $38.13 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $8.57 billion, a PE ratio of 11.18 and a beta of 2.06. The firm’s 50-day moving average is $41.11 and its 200-day moving average is $41.66. United States Steel has a 1 year low of $20.40 and a 1 year high of $50.20.

United States Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Monday, May 13th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.52%. United States Steel’s dividend payout ratio is currently 5.87%.

Institutional Investors Weigh In On United States Steel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Third Point LLC increased its position in shares of United States Steel by 15.8% in the fourth quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock valued at $267,575,000 after acquiring an additional 750,000 shares during the last quarter. Donald Smith & CO. Inc. increased its position in shares of United States Steel by 11.0% during the 4th quarter. Donald Smith & CO. Inc. now owns 4,513,531 shares of the basic materials company’s stock worth $219,583,000 after purchasing an additional 447,186 shares during the last quarter. KGH Ltd raised its stake in shares of United States Steel by 7.5% during the 3rd quarter. KGH Ltd now owns 4,488,769 shares of the basic materials company’s stock worth $145,795,000 after purchasing an additional 315,000 shares in the last quarter. Norges Bank acquired a new stake in shares of United States Steel in the 4th quarter valued at approximately $200,952,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of United States Steel by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,498,737 shares of the basic materials company’s stock valued at $121,564,000 after buying an additional 94,080 shares in the last quarter. 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.