An issue of United States Steel Co. (NYSE:X) debt fell 1.7% against its face value during trading on Wednesday. The high-yield debt issue has a 7.5% coupon and will mature on March 15, 2022. The debt is now trading at $101.34 and was trading at $101.75 last week. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.
A number of research firms have weighed in on X. Vetr cut shares of United States Steel from a “sell” rating to a “strong sell” rating and set a $32.95 price objective on the stock. in a research report on Thursday, February 16th. Cowen and Company upgraded shares of United States Steel from a “market perform” rating to an “outperform” rating in a research report on Monday, February 27th. Axiom Securities reiterated a “sell” rating on shares of United States Steel in a research report on Friday, March 3rd. Deutsche Bank AG boosted their price objective on shares of United States Steel from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, March 21st. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $35.00 price objective on shares of United States Steel in a research report on Monday, February 27th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $30.49.
United States Steel Co. (NYSE:X) traded up 3.678% during mid-day trading on Friday, reaching $19.875. 8,471,722 shares of the company were exchanged. The stock’s market capitalization is $3.47 billion. The stock’s 50-day moving average price is $26.63 and its 200-day moving average price is $31.79. United States Steel Co. has a 1-year low of $13.00 and a 1-year high of $41.83.
United States Steel (NYSE:X) last announced its earnings results on Tuesday, April 25th. The basic materials company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of $0.35 by $1.18. United States Steel had a negative net margin of 4.29% and a negative return on equity of 11.36%. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter last year, the business earned ($2.15) earnings per share. The business’s revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts anticipate that United States Steel Co. will post $1.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Wednesday, May 10th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Monday, May 8th. United States Steel’s payout ratio is presently -6.83%.
In other United States Steel news, Director Stephen J. Girsky bought 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was purchased at an average price of $19.94 per share, for a total transaction of $49,850.00. Following the completion of the purchase, the director now directly owns 21,872 shares in the company, valued at $436,127.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Sutherland bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were acquired at an average price of $19.96 per share, with a total value of $199,600.00. Following the purchase, the director now owns 98,919 shares of the company’s stock, valued at $1,974,423.24. The disclosure for this purchase can be found here. Company insiders own 1.31% of the company’s stock.
A number of large investors have recently bought and sold shares of X. Texas Permanent School Fund boosted its stake in United States Steel by 14.6% in the third quarter. Texas Permanent School Fund now owns 128,336 shares of the basic materials company’s stock valued at $2,420,000 after buying an additional 16,378 shares during the last quarter. United States Steel & Carnegie Pension Fund acquired a new stake in United States Steel during the third quarter valued at $70,982,000. BlackRock Group LTD boosted its stake in United States Steel by 1.5% in the third quarter. BlackRock Group LTD now owns 189,091 shares of the basic materials company’s stock valued at $3,567,000 after buying an additional 2,780 shares during the last quarter. California State Teachers Retirement System boosted its stake in United States Steel by 14.2% in the third quarter. California State Teachers Retirement System now owns 337,929 shares of the basic materials company’s stock valued at $6,373,000 after buying an additional 41,900 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in United States Steel by 1.5% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 18,566 shares of the basic materials company’s stock valued at $350,000 after buying an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 77.18% of the company’s stock.
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About United States Steel
United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).
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