United States Steel Corporation (NYSE:X) was the target of unusually large options trading activity on Wednesday. Stock traders purchased 74,304 call options on the stock. This is an increase of 105% compared to the typical daily volume of 36,326 call options.
Several research firms recently weighed in on X. Citigroup Inc. downgraded shares of United States Steel Corporation from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $26.00 to $20.00 in a research report on Friday, July 28th. Morgan Stanley reaffirmed a “buy” rating and set a $34.00 price objective (down previously from $48.00) on shares of United States Steel Corporation in a research note on Monday, May 1st. Zacks Investment Research cut shares of United States Steel Corporation from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 23rd. Axiom Securities reissued a “sell” rating on shares of United States Steel Corporation in a research note on Thursday, July 13th. Finally, Longbow Research restated a “neutral” rating on shares of United States Steel Corporation in a report on Tuesday, May 9th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. United States Steel Corporation currently has a consensus rating of “Hold” and a consensus target price of $27.36.
In related news, Director Paul Anthony Mascarenas acquired 1,500 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were purchased at an average cost of $19.31 per share, with a total value of $28,965.00. Following the completion of the acquisition, the director now directly owns 12,377 shares of the company’s stock, valued at $238,999.87. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its position in 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 worth $112,000 after buying an additional 3,155 shares in the last quarter. Global X Management Co. LLC increased its position in United States Steel Corporation by 221.0% in the second quarter. Global X Management Co. LLC now owns 5,473 shares of the basic materials company’s stock worth $121,000 after buying an additional 3,768 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in United States Steel Corporation by 10.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,975 shares of the basic materials company’s stock worth $154,000 after buying an additional 674 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in United States Steel Corporation during the first quarter worth approximately $209,000. Finally, Acrospire Investment Management LLC increased its position in 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 worth $210,000 after buying an additional 4,391 shares in the last quarter. Hedge funds and other institutional investors own 69.00% of the company’s stock.
United States Steel Corporation (X) traded up 4.534% during midday trading on Wednesday, reaching $24.785. 10,845,885 shares of the company were exchanged. The firm’s 50-day moving average price is $23.27 and its 200 day moving average price is $27.61. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 156.867 and a beta of 2.88. United States Steel Corporation has a 52-week low of $15.72 and a 52-week high of $41.83.
United States Steel Corporation (NYSE:X) last posted its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.66. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.98 billion. United States Steel Corporation had a net margin of 0.24% and a return on equity of 6.50%. The firm’s revenue was up 21.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.32) earnings per share. Equities analysts predict that United States Steel Corporation will post $1.76 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Wednesday, August 9th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Monday, August 7th. United States Steel Corporation’s dividend payout ratio (DPR) is 125.00%.
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United States Steel Corporation 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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