United States Steel Sees Unusually High Options Volume (NYSE:X)

United States Steel Co. (NYSE:X) saw unusually large options trading on Friday. Stock investors purchased 170,923 call options on the stock. This is an increase of approximately 168% compared to the typical daily volume of 63,775 call options.

Hedge Funds Weigh In On United States Steel

A number of large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in United States Steel by 15.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,133 shares of the basic materials company’s stock worth $2,486,000 after buying an additional 9,711 shares in the last quarter. Callan Family Office LLC acquired a new stake in United States Steel in the 4th quarter valued at about $214,000. Raymond James Financial Inc. acquired a new position in shares of United States Steel in the 4th quarter worth approximately $2,844,000. Arizona State Retirement System grew its position in United States Steel by 0.8% during the 4th quarter. Arizona State Retirement System now owns 65,288 shares of the basic materials company’s stock worth $2,219,000 after purchasing an additional 544 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in United States Steel during the 4th quarter valued at $2,107,000. Institutional investors own 81.92% of the company’s stock.

United States Steel Stock Down 5.9 %

Shares of NYSE:X traded down $2.31 during mid-day trading on Friday, hitting $36.96. 29,374,675 shares of the company traded hands, compared to its average volume of 8,381,414. The firm has a market cap of $8.32 billion, a P/E ratio of 24.80 and a beta of 1.86. United States Steel has a 52-week low of $26.92 and a 52-week high of $48.13. The firm’s 50 day simple moving average is $35.09 and its 200 day simple moving average is $37.03. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55.

United States Steel (NYSE:X) last posted its quarterly earnings data 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 net margin of 2.46% and a return on equity of 4.27%. On average, equities analysts anticipate that United States Steel will post 1.75 EPS for the current year.

United States Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. United States Steel’s payout ratio is currently 13.42%.

Analyst Ratings Changes

A number of analysts have weighed in on X shares. Jefferies Financial Group decreased 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. Morgan Stanley reiterated an “equal weight” rating and issued a $39.00 price objective on shares of United States Steel in a research report on Monday. BMO Capital Markets cut their price objective on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, December 20th. JPMorgan Chase & Co. lowered their target price on shares of United States Steel from $44.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Bank of America assumed coverage on United States Steel in a report on Monday, January 6th. They issued a “neutral” rating and a $35.00 target price for the company. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, United States Steel presently has an average rating of “Moderate Buy” and a consensus price target of $39.82.

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.