United States Steel (NYSE:X) Stock Price Down 4.3%

United States Steel Co. (NYSE:X)’s share price was down 4.3% during trading on Monday . The company traded as low as $39.93 and last traded at $39.99. Approximately 4,868,884 shares were traded during mid-day trading, an increase of 32% from the average daily volume of 3,679,009 shares. The stock had previously closed at $41.79.

Analyst Upgrades and Downgrades

X has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of United States Steel from $43.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Jefferies Financial Group began coverage on United States Steel in a research report on Monday, May 20th. They issued a “buy” rating and a $45.00 target price on the stock. StockNews.com initiated coverage on United States Steel in a research report on Monday. They set a “hold” rating for the company. Morgan Stanley boosted their price target on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, BMO Capital Markets upgraded United States Steel from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $43.00 to $45.00 in a research note on Wednesday, June 26th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $40.13.

United States Steel Stock Down 6.0 %

The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 11.83 and a beta of 1.93. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The business’s 50-day moving average is $38.92 and its two-hundred day moving average is $40.42.

United States Steel (NYSE:X) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.12. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The company had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period in the prior year, the business posted $1.92 earnings per share. The firm’s revenue for the quarter was down 17.8% compared to the same quarter last year. Equities analysts anticipate that United States Steel Co. will post 2.38 EPS for the current year.

United States Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Monday, August 12th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Monday, August 12th. United States Steel’s payout ratio is 5.87%.

Hedge Funds Weigh In On United States Steel

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC acquired a new stake in United States Steel during the 4th quarter worth $226,000. Simplicity Solutions LLC purchased a new stake in shares of United States Steel in the fourth quarter valued at about $224,000. Strs Ohio boosted its stake in shares of United States Steel by 12.7% during the fourth quarter. Strs Ohio now owns 34,326 shares of the basic materials company’s stock worth $1,669,000 after buying an additional 3,879 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in United States Steel by 7.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,945 shares of the basic materials company’s stock valued at $3,306,000 after acquiring an additional 4,944 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in United States Steel during the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

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.