United States Steel Co. (NYSE:X) Short Interest Update

United States Steel Co. (NYSE:X - Get Free Report) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 15,950,000 shares, a drop of 32.1% from the September 15th total of 23,480,000 shares. Based on an average daily trading volume, of 5,650,000 shares, the days-to-cover ratio is presently 2.8 days. Currently, 7.2% of the company's stock are short sold.

Hedge Funds Weigh In On United States Steel

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC increased its stake in United States Steel by 0.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,880 shares of the basic materials company's stock valued at $1,016,000 after purchasing an additional 241 shares during the last quarter. Founders Capital Management increased its stake in United States Steel by 9.4% during the third quarter. Founders Capital Management now owns 3,500 shares of the basic materials company's stock worth $124,000 after acquiring an additional 300 shares during the last quarter. Diversified Trust Co increased its stake in United States Steel by 4.0% during the first quarter. Diversified Trust Co now owns 8,373 shares of the basic materials company's stock worth $341,000 after acquiring an additional 324 shares during the last quarter. Signaturefd LLC increased its stake in United States Steel by 8.3% during the second quarter. Signaturefd LLC now owns 4,673 shares of the basic materials company's stock worth $177,000 after acquiring an additional 360 shares during the last quarter. Finally, Creative Planning increased its stake in United States Steel by 2.0% during the third quarter. Creative Planning now owns 18,340 shares of the basic materials company's stock worth $648,000 after acquiring an additional 360 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

United States Steel Price Performance

Shares of United States Steel stock traded up $1.20 during trading on Friday, reaching $36.61. The company's stock had a trading volume of 2,199,561 shares, compared to its average volume of 5,161,450. The company has a quick ratio of 1.14, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. United States Steel has a 12-month low of $26.92 and a 12-month high of $50.20. The company has a market capitalization of $8.24 billion, a P/E ratio of 16.34 and a beta of 1.87. The business has a 50 day moving average price of $37.04 and a 200-day moving average price of $38.00.

United States Steel (NYSE:X - Get Free Report) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.12. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.01 billion. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. United States Steel's quarterly revenue was down 17.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.92 earnings per share. As a group, sell-side analysts anticipate that United States Steel will post 2.18 EPS for the current year.

United States Steel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 12th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.20 annualized dividend and a yield of 0.55%. United States Steel's payout ratio is currently 8.93%.

Analysts Set New Price Targets

Several research firms recently weighed in on X. BNP Paribas upgraded United States Steel from a "neutral" rating to an "outperform" rating and set a $40.00 target price for the company in a research note on Friday, September 6th. Morgan Stanley boosted their target price on United States Steel from $48.00 to $49.00 and gave the stock an "overweight" rating in a research note on Thursday, August 15th. Glj Research upgraded United States Steel from a "sell" rating to a "buy" rating and set a $38.57 target price for the company in a research note on Monday, September 9th. BMO Capital Markets upgraded United States Steel from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $43.00 to $45.00 in a research note on Wednesday, June 26th. Finally, Jefferies Financial Group cut their price target on United States Steel from $47.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.62.

United States Steel Company Profile

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.