United States Steel (X) Downgraded to Neutral at Bank of America
Bank of America cut shares of United States Steel (NYSE:X) from a buy rating to a neutral rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The firm currently has $50.00 target price on the basic materials company’s stock.
Other equities research analysts also recently issued research reports about the company. BMO Capital Markets increased their target price on United States Steel to $40.00 and gave the stock a market perform rating in a research report on Friday, February 2nd. Morgan Stanley dropped their target price on United States Steel from $46.00 to $42.00 and set an overweight rating on the stock in a research report on Tuesday, February 6th. Credit Suisse Group increased their target price on United States Steel from $34.00 to $48.00 and gave the stock an outperform rating in a research report on Tuesday, January 30th. Cowen restated a hold rating and set a $40.00 target price on shares of United States Steel in a research report on Thursday, January 4th. Finally, Axiom Securities upgraded United States Steel from a sell rating to a hold rating and dropped their target price for the stock from $41.83 to $18.55 in a research report on Monday, December 11th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. United States Steel presently has a consensus rating of Buy and an average target price of $35.53.
Shares of United States Steel (X) opened at $45.39 on Friday. The stock has a market capitalization of $7,980.00, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 1.43 and a beta of 2.79. United States Steel has a 12-month low of $18.55 and a 12-month high of $47.64. The company has a current ratio of 1.75, a quick ratio of 1.11 and a debt-to-equity ratio of 0.81.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 9th will be paid a $0.05 dividend. The ex-dividend date is Thursday, February 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.44%. United States Steel’s dividend payout ratio is presently 11.63%.
In related news, VP Sara A. Greenstein sold 2,613 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $45.33, for a total value of $118,447.29. Following the transaction, the vice president now owns 51,250 shares of the company’s stock, valued at $2,323,162.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Richard Fruehauf sold 1,594 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $45.05, for a total value of $71,809.70. The disclosure for this sale can be found here. In the last three months, insiders sold 151,873 shares of company stock worth $5,948,986. 1.00% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oakbrook Investments LLC increased its stake in United States Steel by 14.0% in the fourth quarter. Oakbrook Investments LLC now owns 12,600 shares of the basic materials company’s stock valued at $443,000 after acquiring an additional 1,550 shares during the last quarter. Advisor Group Inc. increased its stake in United States Steel by 11.8% in the fourth quarter. Advisor Group Inc. now owns 17,228 shares of the basic materials company’s stock valued at $606,000 after acquiring an additional 1,822 shares during the last quarter. Amalgamated Bank increased its stake in United States Steel by 6.0% in the fourth quarter. Amalgamated Bank now owns 35,238 shares of the basic materials company’s stock valued at $1,240,000 after acquiring an additional 2,001 shares during the last quarter. US Bancorp DE grew its stake in shares of United States Steel by 81.2% during the fourth quarter. US Bancorp DE now owns 4,563 shares of the basic materials company’s stock valued at $160,000 after buying an additional 2,045 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of United States Steel by 32.2% during the third quarter. Advisors Asset Management Inc. now owns 8,813 shares of the basic materials company’s stock valued at $226,000 after buying an additional 2,148 shares during the last quarter. 66.01% of the stock is currently owned by institutional investors and hedge funds.
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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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