Other equities analysts have also issued reports about the stock. BMO Capital Markets reduced their price target on shares of United States Steel from $30.00 to $23.00 in a research report on Friday, June 17th. StockNews.com lowered shares of United States Steel from a buy rating to a hold rating in a research report on Friday, July 29th. JPMorgan Chase & Co. reduced their price target on shares of United States Steel from $34.00 to $28.00 and set an underweight rating on the stock in a research report on Tuesday, June 14th. The Goldman Sachs Group reduced their price target on shares of United States Steel from $36.00 to $22.00 and set a sell rating on the stock in a research report on Tuesday, May 31st. Finally, Credit Suisse Group reduced their price target on shares of United States Steel from $49.00 to $44.00 and set an outperform rating on the stock in a research report on Friday, June 17th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $28.75.
United States Steel Price Performance
Shares of United States Steel stock opened at $22.36 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.98. The firm’s 50-day simple moving average is $22.06 and its 200-day simple moving average is $26.35. United States Steel has a twelve month low of $16.41 and a twelve month high of $39.25. The firm has a market cap of $5.30 billion, a P/E ratio of 1.30 and a beta of 2.15.
United States Steel Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Monday, August 8th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Friday, August 5th. United States Steel’s dividend payout ratio is presently 1.17%.
United States Steel announced that its board has authorized a share buyback program on Thursday, July 28th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the basic materials company to purchase up to 8.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Institutional Investors Weigh In On United States Steel
A number of institutional investors and hedge funds have recently modified their holdings of X. GQG Partners LLC bought a new stake in shares of United States Steel during the first quarter worth approximately $351,087,000. Soroban Capital Partners LP bought a new stake in shares of United States Steel during the fourth quarter worth approximately $146,173,000. Donald Smith & CO. Inc. bought a new stake in shares of United States Steel during the second quarter worth approximately $45,765,000. First Trust Advisors LP raised its stake in shares of United States Steel by 155.8% during the first quarter. First Trust Advisors LP now owns 3,309,824 shares of the basic materials company’s stock worth $124,913,000 after buying an additional 2,015,980 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of United States Steel by 163.2% during the second quarter. AQR Capital Management LLC now owns 3,235,338 shares of the basic materials company’s stock worth $56,942,000 after buying an additional 2,006,222 shares during the last quarter. 79.08% of the stock is 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. It operates through four segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.
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