United States Steel (NYSE:X) had its price target raised by Citigroup from $42.00 to $45.00 in a research note published on Tuesday, June 12th. Citigroup currently has a buy rating on the basic materials company’s stock.
Several other brokerages also recently commented on X. Bank of America downgraded United States Steel from a buy rating to a neutral rating and set a $50.00 target price for the company. in a research note on Friday, March 2nd. ValuEngine upgraded United States Steel from a buy rating to a strong-buy rating in a research report on Thursday, March 1st. Credit Suisse Group lifted their price target on United States Steel from $48.00 to $55.00 and gave the company an outperform rating in a research report on Thursday, March 8th. Argus reiterated a buy rating and set a $52.00 price target (up previously from $41.00) on shares of United States Steel in a research report on Wednesday, February 21st. Finally, Vertical Group downgraded United States Steel from a hold rating to a sell rating in a research report on Tuesday, March 13th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $41.17.
Shares of NYSE X opened at $35.73 on Tuesday. United States Steel has a 52 week low of $20.67 and a 52 week high of $47.64. The company has a quick ratio of 1.02, a current ratio of 1.63 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 0.84 and a beta of 3.03.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Investors of record on Thursday, May 10th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, May 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. United States Steel’s dividend payout ratio is 10.31%.
In related news, CFO Kevin Bradley purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, May 1st. The shares were acquired at an average cost of $32.42 per share, with a total value of $324,200.00. Following the purchase, the chief financial officer now directly owns 93,496 shares of the company’s stock, valued at $3,031,140.32. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Sara A. Greenstein sold 3,607 shares of United States Steel stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $37.50, for a total value of $135,262.50. Following the completion of the transaction, the vice president now directly owns 47,962 shares in the company, valued at $1,798,575. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in X. American International Group Inc. lifted its holdings in shares of United States Steel by 1.1% during the fourth quarter. American International Group Inc. now owns 361,380 shares of the basic materials company’s stock valued at $12,717,000 after purchasing an additional 4,063 shares in the last quarter. Elkfork Partners LLC bought a new position in shares of United States Steel during the fourth quarter valued at $540,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of United States Steel by 7.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 752,227 shares of the basic materials company’s stock valued at $26,471,000 after purchasing an additional 49,542 shares in the last quarter. MUFG Americas Holdings Corp bought a new position in shares of United States Steel during the fourth quarter valued at $289,000. Finally, Chemical Bank bought a new position in shares of United States Steel during the fourth quarter valued at $208,000. Institutional investors own 71.39% of the company’s stock.
About United States Steel
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.
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