United States Steel (NYSE:X) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of United States Steel (NYSE:X – Get Rating) in a research note issued to investors on Tuesday, The Fly reports. The firm issued a neutral rating and a $24.00 price target on the basic materials company’s stock.

Several other equities analysts also recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of United States Steel from $23.00 to $26.00 and gave the company a sell rating in a research note on Monday, February 6th. UBS Group decreased their price target on shares of United States Steel from $27.00 to $25.00 in a research note on Friday, May 5th. Wolfe Research raised shares of United States Steel from an underperform rating to a market perform rating in a research note on Monday, March 20th. Morgan Stanley increased their price target on shares of United States Steel from $20.00 to $31.00 and gave the stock an equal weight rating in a research note on Wednesday, February 8th. Finally, StockNews.com assumed coverage on shares of United States Steel in a research note on Thursday, May 18th. They issued a hold rating for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $28.14.

United States Steel Stock Up 1.2 %

Shares of NYSE:X opened at $21.48 on Tuesday. United States Steel has a 52-week low of $16.41 and a 52-week high of $31.55. The firm has a fifty day moving average of $23.89 and a 200 day moving average of $25.84. The firm has a market capitalization of $4.86 billion, a PE ratio of 3.19 and a beta of 2.13. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.25 and a current ratio of 1.88.

United States Steel (NYSE:X – Get Rating) last announced its earnings results on Friday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.16. United States Steel had a net margin of 9.07% and a return on equity of 19.66%. The company had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.25 billion. During the same period in the previous year, the business earned $3.05 earnings per share. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. As a group, research analysts anticipate that United States Steel will post 4.13 EPS for the current fiscal year.

United States Steel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 7th. Investors of record on Monday, May 8th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, May 5th. United States Steel’s dividend payout ratio is currently 2.97%.

Insiders Place Their Bets

In other United States Steel news, SVP Richard Fruehauf sold 37,500 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $31.38, for a total value of $1,176,750.00. Following the transaction, the senior vice president now directly owns 57,826 shares in the company, valued at $1,814,579.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Andrea J. Ayers bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The stock was bought at an average cost of $31.45 per share, with a total value of $31,450.00. Following the completion of the purchase, the director now owns 5,014 shares of the company’s stock, valued at approximately $157,690.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard Fruehauf sold 37,500 shares of the firm’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $31.38, for a total transaction of $1,176,750.00. Following the transaction, the senior vice president now directly owns 57,826 shares of the company’s stock, valued at $1,814,579.88. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On United States Steel

A number of institutional investors and hedge funds have recently made changes to their positions in X. ICA Group Wealth Management LLC purchased a new position in shares of United States Steel during the 4th quarter worth about $28,000. Belpointe Asset Management LLC bought a new position in shares of United States Steel during the 4th quarter worth approximately $29,000. Machina Capital S.A.S. bought a new position in shares of United States Steel during the 1st quarter worth approximately $31,000. AXS Investments LLC bought a new position in shares of United States Steel during the 4th quarter worth approximately $42,000. Finally, CWM LLC raised its stake in shares of United States Steel by 26.5% during the 4th quarter. CWM LLC now owns 1,682 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 352 shares in the last quarter. 75.02% of the stock is owned by hedge funds and other institutional investors.

United States Steel Company Profile

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United States Steel Corp. engages in the manufacturing and selling of steel products. It operates through the following business segments: Flat-Rolled Products, Mini Mill, U.S. Steel Europe, and Tubular Products. The Flat-Rolled Products segment includes managing steel plants and production facilities that manufacture steel slabs, rounds, strip mill plates, sheets, tin mill, iron ore, and coke.