Stock Traders Buy High Volume of United States Steel Call Options (NYSE:X)

United States Steel Co. (NYSE:X) was the target of some unusual options trading on Wednesday. Stock investors purchased 159,676 call options on the stock. This represents an increase of 112% compared to the typical volume of 75,327 call options.

United States Steel Price Performance

Shares of NYSE X opened at $42.42 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. United States Steel has a twelve month low of $26.92 and a twelve month high of $44.87. The firm has a market cap of $9.60 billion, a P/E ratio of 28.47, a PEG ratio of 1.53 and a beta of 1.86. The company has a 50 day moving average of $38.87 and a 200 day moving average of $37.34.

United States Steel (NYSE:X) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) EPS 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%. As a group, research analysts expect that United States Steel will post 1.43 EPS for the current fiscal year.

United States Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, February 10th. United States Steel’s dividend payout ratio (DPR) is presently 13.42%.

Hedge Funds Weigh In On United States Steel

Hedge funds have recently added to or reduced their stakes in the stock. Cerity Partners LLC raised its stake in United States Steel by 36.1% in the 3rd quarter. Cerity Partners LLC now owns 12,613 shares of the basic materials company’s stock worth $446,000 after acquiring an additional 3,344 shares during the last quarter. Bank of Montreal Can boosted its stake in United States Steel by 16.8% during the third quarter. Bank of Montreal Can now owns 63,203 shares of the basic materials company’s stock worth $2,251,000 after buying an additional 9,112 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of United States Steel by 1.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,422 shares of the basic materials company’s stock worth $2,241,000 after acquiring an additional 879 shares in the last quarter. Captrust Financial Advisors boosted its holdings in United States Steel by 4.8% in the third quarter. Captrust Financial Advisors now owns 7,012 shares of the basic materials company’s stock valued at $248,000 after purchasing an additional 321 shares during the period. Finally, Holocene Advisors LP purchased a new stake in United States Steel during the 3rd quarter worth about $51,620,000. 81.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on X shares. Morgan Stanley increased their price target on shares of 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. JPMorgan Chase & Co. boosted their price objective on shares of United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Bank of America started coverage on United States Steel in a research report on Monday, January 6th. They issued a “neutral” rating and a $35.00 price target on the stock. BMO Capital Markets restated a “market perform” rating and set a $45.00 price objective on shares of United States Steel in a research report on Monday. Finally, Jefferies Financial Group reduced their price target on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, United States Steel has a consensus rating of “Moderate Buy” and a consensus price target of $41.32.

United States Steel Company Profile

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.