United States Steel (NYSE:X) Lifted to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of United States Steel (NYSE:X) from an equal weight rating to an overweight rating in a research note released on Monday morning, MarketBeat reports. Morgan Stanley currently has $48.00 price objective on the basic materials company’s stock, down from their prior price objective of $51.00.

Several other equities analysts have also recently issued reports on the company. BMO Capital Markets decreased their price objective on United States Steel from $55.00 to $45.00 and set a market perform rating for the company in a report on Tuesday, March 19th. JPMorgan Chase & Co. decreased their price objective on United States Steel from $47.00 to $43.00 and set a neutral rating for the company in a report on Friday, May 3rd. Wolfe Research raised United States Steel from a peer perform rating to an outperform rating and set a $46.00 price objective for the company in a report on Tuesday, April 9th. Finally, StockNews.com began coverage on United States Steel in a report on Monday, April 29th. They issued a hold rating for the company. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $38.00.

United States Steel Stock Up 0.6 %

Shares of X stock opened at $38.36 on Monday. United States Steel has a 1-year low of $20.40 and a 1-year high of $50.20. The stock’s fifty day moving average price is $40.92 and its 200 day moving average price is $41.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.71 and a quick ratio of 1.14. The company has a market cap of $8.63 billion, a price-to-earnings ratio of 11.25 and a beta of 2.06.

United States Steel Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Entropy Technologies LP purchased a new position in shares of United States Steel during the first quarter worth $586,000. Russell Investments Group Ltd. boosted its position in shares of United States Steel by 5.8% during the first quarter. Russell Investments Group Ltd. now owns 212,829 shares of the basic materials company’s stock worth $8,679,000 after buying an additional 11,715 shares during the period. Headlands Technologies LLC purchased a new position in shares of United States Steel during the first quarter worth $58,000. Verus Capital Partners LLC acquired a new stake in shares of United States Steel in the first quarter valued at $242,000. Finally, Swiss National Bank raised its stake in shares of United States Steel by 0.3% in the first quarter. Swiss National Bank now owns 440,600 shares of the basic materials company’s stock valued at $17,968,000 after acquiring an additional 1,200 shares in the last quarter. 81.92% of the stock is currently 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.