United States Steel (NYSE:X) Trading Up 6.9% – Time to Buy?

Shares of United States Steel Co. (NYSE:X) were up 6.9% on Monday . The company traded as high as $42.63 and last traded at $40.94. Approximately 2,313,589 shares changed hands during trading, a decline of 55% from the average daily volume of 5,190,324 shares. The stock had previously closed at $38.29.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on X. JPMorgan Chase & Co. lifted their price target on shares of United States Steel from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Bank of America initiated coverage on shares of United States Steel in a research note on Monday, January 6th. They set a “neutral” rating and a $35.00 target price for the company. Morgan Stanley raised their price target on United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a research note on Friday, March 7th. Jefferies Financial Group lowered their price objective on United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $45.00 target price on shares of United States Steel in a research report on Monday, March 31st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.32.

United States Steel Stock Performance

The company has a market cap of $10.10 billion, a PE ratio of 29.93, a PEG ratio of 1.53 and a beta of 1.79. The stock has a 50 day simple moving average of $38.93 and a two-hundred day simple moving average of $37.38. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. Equities analysts predict that United States Steel Co. will post 1.43 EPS for the current year.

United States Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.45%. United States Steel’s payout ratio is 13.42%.

Hedge Funds Weigh In On United States Steel

Several institutional investors have recently bought and sold shares of X. Bessemer Group Inc. boosted its stake in shares of United States Steel by 64.0% in the fourth quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company’s stock valued at $25,000 after buying an additional 277 shares in the last quarter. Ameliora Wealth Management Ltd. purchased a new stake in shares of United States Steel during the 4th quarter worth $27,000. ORG Wealth Partners LLC acquired a new position in shares of United States Steel during the 4th quarter worth $30,000. Parkworth Wealth Management Inc. purchased a new position in shares of United States Steel in the 4th quarter valued at about $31,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of United States Steel in the fourth quarter valued at about $32,000. 81.92% of the stock is owned by institutional investors and hedge funds.

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.