United States Steel (NYSE:X) Hits New 1-Year High - Time to Buy?

United States Steel Co. (NYSE:X - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $43.40 and last traded at $43.24, with a volume of 301414 shares changing hands. The stock had previously closed at $43.00.

Wall Street Analyst Weigh In

Several brokerages have weighed in on X. Bank of America began coverage on United States Steel in a research note on Monday, January 6th. They set a "neutral" rating and a $35.00 price objective on the stock. BMO Capital Markets increased their price objective on shares of United States Steel from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. Jefferies Financial Group dropped their price objective on United States Steel from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Morgan Stanley raised their price objective on United States Steel from $39.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of United States Steel from $40.00 to $43.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 11th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $41.32.

Remove Ads

United States Steel Stock Up 0.0 %

The company has a market capitalization of $9.73 billion, a PE ratio of 28.86, a P/E/G ratio of 1.53 and a beta of 1.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91. The business's 50 day simple moving average is $38.52 and its 200 day simple moving average is $37.19.

United States Steel (NYSE:X - Get Free Report) last announced its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. As a group, analysts anticipate that United States Steel Co. will post 1.43 earnings per share for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were paid a $0.05 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.47%. United States Steel's dividend payout ratio is presently 13.42%.

Institutional Investors Weigh In On United States Steel

Several hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. boosted its holdings in shares of United States Steel by 64.0% in the fourth quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 277 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in United States Steel by 0.7% in the 3rd quarter. D.A. Davidson & CO. now owns 44,450 shares of the basic materials company's stock valued at $1,570,000 after purchasing an additional 301 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of United States Steel by 4.8% during the 3rd quarter. Captrust Financial Advisors now owns 7,012 shares of the basic materials company's stock worth $248,000 after buying an additional 321 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of United States Steel by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 6,880 shares of the basic materials company's stock valued at $234,000 after buying an additional 366 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of United States Steel by 0.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,730 shares of the basic materials company's stock valued at $1,690,000 after buying an additional 412 shares in the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

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.