StockNews.com started coverage on shares of United States Steel (NYSE:X – Free Report) in a report issued on Tuesday. The firm issued a hold rating on the basic materials company’s stock.
A number of other research firms have also recently commented on X. JPMorgan Chase & Co. cut their price target on shares of United States Steel from $47.00 to $43.00 and set a neutral rating on the stock in a report on Friday, May 3rd. BMO Capital Markets reduced their target price on United States Steel from $55.00 to $45.00 and set a market perform rating for the company in a report on Tuesday, March 19th. Morgan Stanley upgraded United States Steel from an equal weight rating to an overweight rating and decreased their price target for the stock from $51.00 to $48.00 in a research note on Monday. Finally, Wolfe Research raised United States Steel from a peer perform rating to an outperform rating and set a $46.00 price objective on the stock in a research report on Tuesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $38.00.
Check Out Our Latest Report on X
United States Steel Price Performance
United States Steel Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Monday, May 13th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Friday, May 10th. United States Steel’s dividend payout ratio (DPR) is presently 5.87%.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the business. Third Point LLC bought a new stake in shares of United States Steel during the third quarter valued at approximately $154,280,000. Norges Bank bought a new position in shares of United States Steel during the fourth quarter valued at approximately $200,952,000. KRYGER CAPITAL Ltd purchased a new stake in United States Steel in the fourth quarter worth $95,529,000. Laurion Capital Management LP purchased a new position in United States Steel in the 3rd quarter worth about $50,912,000. Finally, Segantii Capital Management Ltd bought a new stake in shares of United States Steel during the fourth quarter valued at approximately $68,840,000. 81.92% of the stock is currently owned by institutional investors.
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.
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