United States Steel (NYSE:X) Shares Up 4.1% – Time to Buy?

United States Steel Co. (NYSE:X) shares rose 4.1% during trading on Tuesday . The company traded as high as $41.62 and last traded at $41.75. Approximately 3,828,348 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 4,906,090 shares. The stock had previously closed at $40.11.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on X shares. Jefferies Financial Group reduced their price objective on 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. BMO Capital Markets dropped their price objective on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Bank of America assumed coverage on shares of United States Steel in a report on Monday, January 6th. They set a “neutral” rating and a $35.00 target price on the stock. Morgan Stanley raised their price target on shares of United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of United States Steel from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Three 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, the company has an average rating of “Moderate Buy” and an average price target of $40.70.

United States Steel Stock Down 1.3 %

The firm has a market cap of $9.25 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 1.53 and a beta of 1.86. The firm has a 50 day moving average of $37.58 and a 200 day moving average of $36.72. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. As a group, sell-side analysts predict that United States Steel Co. will post 1.43 earnings per share for the current year.

United States Steel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were issued a $0.05 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.20 annualized dividend and a yield of 0.49%. United States Steel’s payout ratio is currently 13.42%.

Institutional Trading of United States Steel

Several hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. boosted its position in shares of United States Steel by 64.0% during the fourth quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company’s stock valued at $25,000 after buying an additional 277 shares during the last quarter. Ameliora Wealth Management Ltd. purchased a new stake in shares of United States Steel in the fourth quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new position in United States Steel during the fourth quarter worth about $30,000. Parkworth Wealth Management Inc. bought a new stake in United States Steel in the 4th quarter worth about $31,000. Finally, Lee Danner & Bass Inc. purchased a new stake in United States Steel in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 81.92% 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.