United States Steel Co. (NYSE:X – Get Free Report) announced a quarterly dividend on Thursday, February 1st, RTT News reports. Stockholders of record on Monday, February 12th will be paid a dividend of 0.05 per share by the basic materials company on Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Friday, February 9th.
United States Steel has increased its dividend payment by an average of 71.0% annually over the last three years. United States Steel has a payout ratio of 6.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect United States Steel to earn $5.68 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 3.5%.
United States Steel Stock Up 0.2 %
Shares of NYSE X opened at $45.59 on Wednesday. The stock has a market capitalization of $10.20 billion, a P/E ratio of 12.99 and a beta of 2.04. United States Steel has a one year low of $20.40 and a one year high of $50.20. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.76 and a quick ratio of 1.22. The firm’s 50 day simple moving average is $44.96 and its two-hundred day simple moving average is $36.02.
Analyst Upgrades and Downgrades
X has been the topic of a number of research reports. Barclays reduced their price objective on United States Steel from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 1st. Royal Bank of Canada decreased their price objective on United States Steel from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 31st. Argus cut United States Steel from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. JPMorgan Chase & Co. started coverage on United States Steel in a research note on Friday, January 12th. They issued a “neutral” rating and a $52.00 price target for the company. Finally, StockNews.com initiated coverage on United States Steel in a research note on Thursday, February 1st. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.56.
Insider Buying and Selling
In other United States Steel news, SVP Daniel R. Brown sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $49.77, for a total value of $248,850.00. Following the transaction, the senior vice president now owns 86,968 shares in the company, valued at approximately $4,328,397.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other United States Steel news, SVP Daniel R. Brown sold 5,000 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $49.77, for a total value of $248,850.00. Following the completion of the sale, the senior vice president now directly owns 86,968 shares of the company’s stock, valued at approximately $4,328,397.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David B. Burritt sold 252,458 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $50.01, for a total transaction of $12,625,424.58. Following the completion of the transaction, the chief executive officer now owns 581,609 shares of the company’s stock, valued at approximately $29,086,266.09. The disclosure for this sale can be found here. Insiders have sold 262,458 shares of company stock worth $13,049,275 in the last ninety days. 0.98% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. ICA Group Wealth Management LLC acquired a new position in shares of United States Steel in the fourth quarter valued at $28,000. Dark Forest Capital Management LP bought a new position in United States Steel during the 1st quarter worth approximately $48,000. Money Concepts Capital Corp acquired a new stake in shares of United States Steel during the 4th quarter worth approximately $51,000. Belpointe Asset Management LLC lifted its stake in United States Steel by 71.7% during the 1st quarter. Belpointe Asset Management LLC now owns 1,962 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 819 shares in the last quarter. Finally, Castleview Partners LLC bought a new stake in shares of United States Steel during the 1st quarter worth $61,000. Institutional investors and hedge funds own 74.60% 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.
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