Jefferies Financial Group Begins Coverage on United States Steel (NYSE:X)

Jefferies Financial Group began coverage on shares of United States Steel (NYSE:X) in a report published on Monday morning, Marketbeat.com reports. The firm issued a buy rating and a $45.00 target price on the basic materials company’s stock.

X has been the topic of several other research reports. StockNews.com initiated coverage on United States Steel in a report on Wednesday, May 15th. They issued a hold rating on the stock. Morgan Stanley raised shares of United States Steel from an equal weight rating to an overweight rating and reduced their price target for the company from $51.00 to $48.00 in a research report on Monday, May 6th. JPMorgan Chase & Co. lowered their price objective on shares of United States Steel from $47.00 to $43.00 and set a neutral rating on the stock in a report on Friday, May 3rd. Wolfe Research upgraded shares of 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, BMO Capital Markets lowered 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. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $38.78.

United States Steel Trading Up 0.2 %

NYSE X opened at $36.22 on Monday. United States Steel has a one year low of $20.40 and a one year high of $50.20. 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 business has a 50 day simple moving average of $39.04 and a 200 day simple moving average of $41.92. The stock has a market capitalization of $8.14 billion, a P/E ratio of 10.62 and a beta of 2.06.

United States Steel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Monday, May 13th will be given 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 0.55%. United States Steel’s dividend payout ratio is currently 5.87%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. raised its position in shares of United States Steel by 308.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 331,492 shares of the basic materials company’s stock worth $16,127,000 after buying an additional 250,311 shares in the last quarter. FNY Investment Advisers LLC boosted its position in shares of United States Steel by 16,065.0% during the 4th quarter. FNY Investment Advisers LLC now owns 32,330 shares of the basic materials company’s stock valued at $1,572,000 after acquiring an additional 32,130 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of United States Steel by 4,057.9% during the fourth quarter. International Assets Investment Management LLC now owns 747,553 shares of the basic materials company’s stock worth $36,368,000 after purchasing an additional 729,574 shares in the last quarter. SG Americas Securities LLC increased its position in shares of United States Steel by 1,132.8% in the fourth quarter. SG Americas Securities LLC now owns 115,715 shares of the basic materials company’s stock worth $5,630,000 after purchasing an additional 106,329 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in United States Steel in the fourth quarter valued at approximately $3,045,000. Hedge funds and other institutional investors own 81.92% 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. 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.