United States Steel (NYSE:X) Trading Up 10.2% – Should You Buy?

Shares of United States Steel Co. (NYSE:X) shot up 10.2% during trading on Tuesday . The stock traded as high as $34.29 and last traded at $34.20. 5,787,128 shares traded hands during mid-day trading, an increase of 25% from the average session volume of 4,619,719 shares. The stock had previously closed at $31.03.

Wall Street Analyst Weigh In

X has been the topic of several research reports. BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Friday, September 6th. BMO Capital Markets reduced their price target on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Jefferies Financial Group cut their price objective on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price on the stock in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. raised United States Steel from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $40.00 to $42.00 in a research report on Monday, September 9th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.37.

United States Steel Trading Down 0.5 %

The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 22.26 and a beta of 1.83. The company’s 50-day moving average is $36.92 and its 200-day moving average is $37.42.

United States Steel (NYSE:X) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.15. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.77 billion. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. United States Steel’s revenue was down 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 EPS. Research analysts anticipate that United States Steel Co. will post 2.17 earnings per share for the current fiscal year.

United States Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th were issued a $0.05 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.59%. United States Steel’s payout ratio is 13.16%.

Institutional Trading of United States Steel

A number of large investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its position in United States Steel by 4,305.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company’s stock worth $137,379,000 after buying an additional 3,551,870 shares during the last quarter. Castle Hook Partners LP purchased a new position in United States Steel during the third quarter worth about $91,712,000. KGH Ltd lifted its position in United States Steel by 68.2% in the second quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock valued at $160,839,000 after purchasing an additional 1,724,670 shares during the period. Holocene Advisors LP purchased a new stake in United States Steel in the 3rd quarter valued at approximately $51,620,000. Finally, Forest Avenue Capital Management LP acquired a new position in United States Steel during the 2nd quarter worth approximately $22,770,000. Institutional investors and hedge funds 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.