United States Steel Sees Unusually Large Options Volume (NYSE:X)

United States Steel Co. (NYSE:XGet Free Report) saw some unusual options trading on Wednesday. Stock investors purchased 67,238 put options on the stock. This represents an increase of 115% compared to the typical volume of 31,304 put options.

Hedge Funds Weigh In On United States Steel

Several large investors have recently added to or reduced their stakes in the company. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of United States Steel during the fourth quarter valued at $25,000. Byrne Asset Management LLC boosted its position in shares of United States Steel by 1,140.0% during the 1st quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 570 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of United States Steel in the 4th quarter worth approximately $33,000. Riverview Trust Co bought a new stake in shares of United States Steel in the 1st quarter worth approximately $29,000. Finally, Pineridge Advisors LLC acquired a new position in United States Steel in the fourth quarter worth approximately $44,000. 81.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on X shares. BMO Capital Markets lowered their target price on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a research note on Tuesday, March 19th. Jefferies Financial Group began coverage on shares of United States Steel in a research note on Monday, May 20th. They issued a “buy” rating and a $45.00 price objective for the company. StockNews.com assumed coverage on United States Steel in a report on Friday, May 31st. They issued a “hold” rating for the company. JPMorgan Chase & Co. cut their price target on United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Finally, Wolfe Research raised shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective on the stock in a research report on Tuesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, United States Steel currently has an average rating of “Hold” and an average target price of $38.78.

Get Our Latest Analysis on X

United States Steel Trading Down 0.1 %

Shares of X opened at $38.32 on Friday. The stock’s fifty day simple moving average is $38.51 and its 200 day simple moving average is $42.11. The firm has a market capitalization of $8.62 billion, a P/E ratio of 11.24 and a beta of 1.99. The company has a current ratio of 1.71, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. United States Steel has a twelve month low of $21.99 and a twelve month high of $50.20.

United States Steel (NYSE:XGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. The firm had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.22 billion. On average, equities research analysts forecast that United States Steel will post 3.02 earnings per share for the current year.

United States Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Monday, May 13th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.52%. The ex-dividend date is Friday, May 10th. United States Steel’s dividend payout ratio is currently 5.87%.

About United States Steel

(Get Free Report)

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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