United States Steel Corp. (X) Shares Up 5.1%
United States Steel Corp. (NYSE:X) shot up 5.1% during trading on Friday . The stock traded as high as $19.09 and last traded at $19.03, with a volume of 14,256,930 shares changing hands. The stock had previously closed at $18.10.
Several research firms recently commented on X. Vetr cut United States Steel Corp. from a “sell” rating to a “strong sell” rating and set a $16.01 price target for the company. in a report on Monday. Morgan Stanley reaffirmed a “hold” rating on shares of United States Steel Corp. in a report on Tuesday, April 26th. Jefferies Group reaffirmed a “sell” rating on shares of United States Steel Corp. in a report on Sunday, June 12th. Argus reaffirmed a “hold” rating on shares of United States Steel Corp. in a report on Monday, May 2nd. Finally, Rosenblatt Securities raised United States Steel Corp. from a “neutral” rating to a “buy” rating and set a $25.00 price target for the company in a report on Thursday, April 28th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.80.
The stock has a 50 day moving average price of $16.35 and a 200 day moving average price of $13.38. The firm’s market capitalization is $2.79 billion.
United States Steel Corp. (NYSE:X) last issued its quarterly earnings results on Tuesday, April 26th. The company reported ($2.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.23) by $0.92. During the same period in the previous year, the business earned ($0.07) EPS. The business earned $2.34 billion during the quarter, compared to the consensus estimate of $2.51 billion. The business’s revenue was down 28.5% compared to the same quarter last year. On average, analysts predict that United States Steel Corp. will post ($2.00) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Wednesday, May 11th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, May 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.05%.
In other news, Director Stephen J. Girsky acquired 2,000 shares of the company’s stock in a transaction dated Thursday, May 5th. The stock was acquired at an average cost of $18.94 per share, for a total transaction of $37,880.00. Following the acquisition, the director now directly owns 2,000 shares in the company, valued at approximately $37,880. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.
Other hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in United States Steel Corp. by 7.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 293,150 shares of the company’s stock worth $2,339,000 after buying an additional 19,135 shares during the last quarter. Hodges Capital Management Inc. increased its stake in United States Steel Corp. by 77.2% in the fourth quarter. Hodges Capital Management Inc. now owns 2,673,689 shares of the company’s stock worth $21,336,000 after buying an additional 1,164,668 shares during the last quarter. Zweig DiMenna Associates LLC increased its stake in United States Steel Corp. by 175.8% in the fourth quarter. Zweig DiMenna Associates LLC now owns 159,510 shares of the company’s stock worth $1,273,000 after buying an additional 101,670 shares during the last quarter. BBT Capital Management LLC purchased a new stake in United States Steel Corp. during the fourth quarter worth approximately $2,873,000. Finally, Shell Asset Management Co. purchased a new stake in United States Steel Corp. during the fourth quarter worth approximately $1,149,000.
United States Steel Corporation (U. S. Steel) 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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