United States Steel (NYSE:X) Sees Large Volume Increase – What’s Next?

Shares of United States Steel Co. (NYSE:X) saw unusually-high trading volume on Friday . Approximately 25,885,210 shares changed hands during trading, an increase of 215% from the previous session’s volume of 8,213,552 shares.The stock last traded at $37.09 and had previously closed at $39.27.

Analyst Ratings Changes

A number of brokerages have commented on X. BMO Capital Markets cut their price target on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Jefferies Financial Group dropped their target price on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Bank of America began 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 target for the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $39.00 price target on shares of United States Steel in a research note on Monday. Finally, JPMorgan Chase & Co. decreased their price target on shares of United States Steel from $44.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, United States Steel currently has an average rating of “Moderate Buy” and an average target price of $39.82.

United States Steel Stock Performance

The company has a market cap of $8.32 billion, a PE ratio of 24.80 and a beta of 1.86. The company’s fifty day moving average price is $35.09 and its 200 day moving average price is $37.03. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91.

United States Steel (NYSE:X) last issued its quarterly 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 net margin of 2.46% and a return on equity of 4.27%. On average, equities research analysts predict that United States Steel Co. will post 1.75 earnings per share for the current year.

United States Steel Announces Dividend

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

Institutional Investors Weigh In On United States Steel

Hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of United States Steel by 15.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,133 shares of the basic materials company’s stock valued at $2,486,000 after purchasing an additional 9,711 shares during the last quarter. Callan Family Office LLC purchased a new stake in United States Steel during the 4th quarter valued at $214,000. Raymond James Financial Inc. bought a new stake in United States Steel in the 4th quarter worth $2,844,000. Arizona State Retirement System increased its position in shares of United States Steel by 0.8% in the fourth quarter. Arizona State Retirement System now owns 65,288 shares of the basic materials company’s stock valued at $2,219,000 after acquiring an additional 544 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in shares of United States Steel during the fourth quarter valued at about $2,107,000. 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.