Shares of United States Steel Corporation (NYSE:X) gapped up before the market opened on Thursday after Cowen and raised their price target on the stock from $21.00 to $24.00. The stock had previously closed at $25.85, but opened at $26.20. Cowen and currently has a market perform rating on the stock. United States Steel Corporation shares last traded at $25.39, with a volume of 11,272,326 shares changing hands.
Other analysts have also issued research reports about the company. Morgan Stanley reissued a “buy” rating and set a $34.00 price target (down previously from $48.00) on shares of United States Steel Corporation in a report on Monday, May 1st. Jefferies Group LLC reissued a “buy” rating and set a $50.00 price target on shares of United States Steel Corporation in a report on Wednesday, April 26th. Vetr lowered United States Steel Corporation from a “strong-buy” rating to a “buy” rating and set a $38.38 price target for the company. in a report on Tuesday, April 11th. Standpoint Research raised United States Steel Corporation from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Wednesday, June 7th. They noted that the move was a valuation call. Finally, Longbow Research raised United States Steel Corporation from a “neutral” rating to a “buy” rating in a report on Monday, June 19th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. United States Steel Corporation presently has an average rating of “Hold” and a consensus target price of $29.52.
In other news, Director Stephen J. Girsky bought 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were bought at an average cost of $19.94 per share, for a total transaction of $49,850.00. Following the completion of the transaction, the director now owns 21,872 shares of the company’s stock, valued at $436,127.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul Anthony Mascarenas bought 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was purchased at an average price of $19.31 per share, for a total transaction of $28,965.00. Following the completion of the transaction, the director now directly owns 12,377 shares of the company’s stock, valued at approximately $238,999.87. The disclosure for this purchase can be found here. Insiders purchased 14,000 shares of company stock worth $278,415 over the last quarter. 1.00% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of United States Steel Corporation by 1,971.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,315 shares of the basic materials company’s stock valued at $112,000 after buying an additional 3,155 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of United States Steel Corporation during the first quarter valued at $209,000. Acrospire Investment Management LLC boosted its stake in shares of United States Steel Corporation by 241.1% in the first quarter. Acrospire Investment Management LLC now owns 6,212 shares of the basic materials company’s stock valued at $210,000 after buying an additional 4,391 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of United States Steel Corporation by 21.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,301 shares of the basic materials company’s stock valued at $213,000 after buying an additional 1,112 shares during the last quarter. Finally, FNY Partners Fund LP boosted its stake in shares of United States Steel Corporation by 272.2% in the first quarter. FNY Partners Fund LP now owns 6,700 shares of the basic materials company’s stock valued at $226,000 after buying an additional 4,900 shares during the last quarter. 67.18% of the stock is currently owned by institutional investors.
The firm has a 50 day moving average of $22.46 and a 200 day moving average of $28.59. The company’s market cap is $4.37 billion. United States Steel Corporation also was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 51,977 put options on the company. This represents an increase of approximately 194% compared to the typical volume of 17,668 put options.
United States Steel Corporation (NYSE:X) last issued its earnings results on Tuesday, July 25th. The basic materials company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.66. United States Steel Corporation had a net margin of 0.24% and a return on equity of 6.64%. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. The company’s revenue was up 21.7% compared to the same quarter last year. Equities analysts predict that United States Steel Corporation will post $1.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 9th will be given a $0.05 dividend. The ex-dividend date is Monday, August 7th. This represents a $0.20 dividend on an annualized basis and a yield of 0.80%. United States Steel Corporation’s dividend payout ratio (DPR) is presently 125.00%.
About United States Steel Corporation
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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