Investors Purchase High Volume of United States Steel Put Options (NYSE:X)

United States Steel Co. (NYSE:XGet Free Report) was the target of unusually large options trading on Tuesday. Stock investors purchased 41,562 put options on the stock. This represents an increase of 23% compared to the typical volume of 33,711 put options.

Hedge Funds Weigh In On United States Steel

Institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in United States Steel during the fourth quarter valued at about $200,952,000. KRYGER CAPITAL Ltd acquired a new position in shares of United States Steel in the fourth quarter valued at $95,529,000. Segantii Capital Management Ltd acquired a new stake in United States Steel during the fourth quarter worth $68,840,000. Bank of Nova Scotia bought a new stake in United States Steel in the 4th quarter valued at $53,338,000. Finally, ING Groep NV acquired a new position in shares of United States Steel in the 4th quarter valued at $49,769,000. 81.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on X. Morgan Stanley upgraded shares of United States Steel from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $51.00 to $48.00 in a research report on Monday, May 6th. BMO Capital Markets upgraded United States Steel from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $43.00 to $45.00 in a research report on Wednesday, June 26th. Wolfe Research upgraded United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a research report on Tuesday, April 9th. StockNews.com began coverage on United States Steel in a report on Wednesday. They issued a “hold” rating for the company. Finally, Jefferies Financial Group initiated coverage on United States Steel in a report on Monday, May 20th. They set a “buy” rating and a $45.00 target price on the stock. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, United States Steel currently has an average rating of “Hold” and a consensus target price of $40.38.

View Our Latest Research Report on X

United States Steel Stock Down 1.0 %

X opened at $38.81 on Wednesday. The company has a market capitalization of $8.73 billion, a PE ratio of 11.38 and a beta of 1.93. The business has a 50-day moving average of $37.42 and a 200-day moving average of $42.07. United States Steel has a fifty-two week low of $22.26 and a fifty-two week high of $50.20. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.71 and a quick ratio of 1.14.

United States Steel (NYSE:XGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.22 billion. Equities research analysts forecast that United States Steel will post 2.63 EPS for the current fiscal year.

United States Steel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Monday, May 13th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Friday, May 10th. United States Steel’s dividend payout ratio is 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.

Further Reading

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