United States Steel (X) Debt Trading 1.2% Lower

An issue of United States Steel Co. (NYSE:X) debt fell 1.2% as a percentage of its face value during trading on Tuesday. The high-yield issue of debt has a 6.25% coupon and will mature on March 15, 2026. The debt is now trading at $92.50 and was trading at $94.50 one week ago. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.

A number of equities research analysts have recently issued reports on X shares. ValuEngine lowered shares of United States Steel from a “sell” rating to a “strong sell” rating in a research note on Monday, November 26th. Longbow Research lowered their price objective on shares of United States Steel from $49.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, November 27th. UBS Group raised shares of United States Steel from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $28.00 to $22.00 in a research report on Monday, December 10th. BMO Capital Markets reaffirmed a “hold” rating and set a $26.00 price objective on shares of United States Steel in a research report on Wednesday, December 19th. Finally, Credit Suisse Group downgraded shares of United States Steel from an “outperform” rating to a “neutral” rating in a research report on Tuesday, January 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $29.27.

Shares of NYSE:X traded down $0.58 during trading on Thursday, reaching $19.78. 6,946,409 shares of the company’s stock traded hands, compared to its average volume of 9,978,817. The company has a quick ratio of 0.86, a current ratio of 1.51 and a debt-to-equity ratio of 0.55. United States Steel Co. has a 12 month low of $17.08 and a 12 month high of $40.54. The company has a market cap of $3.53 billion, a PE ratio of 3.69, a P/E/G ratio of 1.07 and a beta of 2.87.

United States Steel (NYSE:X) last announced its quarterly earnings data on Wednesday, January 30th. The basic materials company reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.01). United States Steel had a net margin of 7.86% and a return on equity of 25.39%. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the company earned $0.76 EPS. United States Steel’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, research analysts forecast that United States Steel Co. will post 2.38 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Wednesday, February 13th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Tuesday, February 12th. United States Steel’s dividend payout ratio is presently 3.73%.

In other news, CFO Kevin Bradley bought 10,000 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was purchased at an average price of $22.79 per share, for a total transaction of $227,900.00. Following the transaction, the chief financial officer now owns 122,830 shares in the company, valued at $2,799,295.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.01% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mechanics Bank Trust Department lifted its stake in shares of United States Steel by 4.1% in the 4th quarter. Mechanics Bank Trust Department now owns 12,653 shares of the basic materials company’s stock worth $231,000 after acquiring an additional 500 shares during the period. Stratos Wealth Partners LTD. lifted its stake in shares of United States Steel by 7.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 10,446 shares of the basic materials company’s stock worth $191,000 after acquiring an additional 724 shares during the period. Retirement Systems of Alabama lifted its stake in shares of United States Steel by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 229,840 shares of the basic materials company’s stock worth $4,192,000 after acquiring an additional 813 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of United States Steel by 1.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 70,736 shares of the basic materials company’s stock worth $1,290,000 after acquiring an additional 899 shares during the period. Finally, Honeywell International Inc. lifted its stake in shares of United States Steel by 0.3% in the 4th quarter. Honeywell International Inc. now owns 299,400 shares of the basic materials company’s stock worth $5,461,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

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About United States Steel (NYSE:X)

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: North American Flat-Rolled (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets and tin mill products, as well as all iron ore and coke.

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