United States Steel (NYSE:X) Sees Large Volume Increase – Here’s Why

United States Steel Co. (NYSE:X) saw unusually-strong trading volume on Monday . Approximately 7,288,904 shares traded hands during trading, a decline of 39% from the previous session’s volume of 11,919,654 shares.The stock last traded at $36.66 and had previously closed at $34.24.

Wall Street Analysts Forecast Growth

Several research firms have commented on X. Bank of America began coverage on United States Steel in a report on Monday, January 6th. They issued a “neutral” rating and a $35.00 price target for the company. BMO Capital Markets lowered their price target on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Finally, Jefferies Financial Group lowered their price target on United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.32.

United States Steel Stock Up 7.6 %

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.08 and a current ratio of 1.67. The firm has a market capitalization of $8.30 billion, a P/E ratio of 24.24 and a beta of 1.88. The stock has a fifty day moving average price of $36.04 and a two-hundred day moving average price of $37.23.

United States Steel (NYSE:X) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.77 billion. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The firm’s revenue was down 13.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.36 EPS. Research analysts forecast that United States Steel Co. will post 2.17 EPS for the current year.

United States Steel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. United States Steel’s payout ratio is 13.16%.

Institutional Trading of United States Steel

Institutional investors have recently modified their holdings of the company. ORG Wealth Partners LLC acquired a new stake in shares of United States Steel in the fourth quarter valued at $30,000. Palouse Capital Management Inc. purchased a new stake in shares of United States Steel during the third quarter valued at $35,000. Gladius Capital Management LP purchased a new stake in shares of United States Steel during the third quarter valued at $39,000. GAMMA Investing LLC lifted its holdings in shares of United States Steel by 50.0% during the fourth quarter. GAMMA Investing LLC now owns 1,326 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 442 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of United States Steel during the second quarter valued at $46,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

About United States Steel

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.