United States Steel (NYSE:X) Hits New 12-Month High – Here’s What Happened

United States Steel Co. (NYSE:X) reached a new 52-week high during trading on Wednesday . The stock traded as high as $43.40 and last traded at $43.24, with a volume of 301414 shares traded. The stock had previously closed at $43.00.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Bank of America started coverage on shares of United States Steel in a research note on Monday, January 6th. They issued a “neutral” rating and a $35.00 price objective for the company. BMO Capital Markets raised their price target on United States Steel from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, March 21st. Morgan Stanley increased their target price on United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, March 7th. JPMorgan Chase & Co. boosted their target price on shares of United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. 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. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $41.32.

United States Steel Trading Up 1.3 %

The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $9.81 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86. The stock’s 50 day moving average is $38.11 and its two-hundred day moving average is $36.99.

United States Steel (NYSE:X) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) 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%. As a group, sell-side analysts predict that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th were issued a $0.05 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.46%. United States Steel’s dividend payout ratio is presently 13.42%.

Hedge Funds Weigh In On United States Steel

A number of large investors have recently added to or reduced their stakes in X. Natixis Advisors LLC increased its position in shares of United States Steel by 4.9% during the third quarter. Natixis Advisors LLC now owns 31,284 shares of the basic materials company’s stock worth $1,105,000 after purchasing an additional 1,455 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in United States Steel by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,600,708 shares of the basic materials company’s stock worth $91,883,000 after buying an additional 28,293 shares during the last quarter. Cerity Partners LLC increased its position in United States Steel by 36.1% during the 3rd quarter. Cerity Partners LLC now owns 12,613 shares of the basic materials company’s stock valued at $446,000 after buying an additional 3,344 shares in the last quarter. Larson Financial Group LLC raised its stake in United States Steel by 125.0% in the third quarter. Larson Financial Group LLC now owns 2,887 shares of the basic materials company’s stock valued at $102,000 after buying an additional 1,604 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in United States Steel by 60.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 19,769 shares of the basic materials company’s stock worth $698,000 after acquiring an additional 7,460 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors.

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.