United States Steel (NYSE:X) Trading Down 4%

United States Steel Co. (NYSE:X - Get Free Report)'s stock price was down 4% on Friday . The stock traded as low as $35.57 and last traded at $35.87. Approximately 3,208,465 shares changed hands during trading, a decline of 25% from the average daily volume of 4,298,174 shares. The stock had previously closed at $37.35.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on X shares. Wolfe Research upgraded United States Steel from a "peer perform" rating to an "outperform" rating and set a $46.00 price target for the company in a report on Tuesday, April 9th. BMO Capital Markets reduced their price objective 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. JPMorgan Chase & Co. reduced their price objective on United States Steel from $47.00 to $43.00 and set a "neutral" rating for the company in a report on Friday, May 3rd. StockNews.com began coverage on United States Steel in a research report on Wednesday. They issued a "hold" rating on the stock. Finally, Morgan Stanley raised United States Steel from an "equal weight" rating to an "overweight" rating and dropped their target price for the stock from $51.00 to $48.00 in a research report on Monday, May 6th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $38.00.

United States Steel Trading Down 3.9 %

The stock has a market cap of $8.07 billion, a P/E ratio of 10.95 and a beta of 2.06. The company has a current ratio of 1.71, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $39.78 and a two-hundred day moving average price of $41.80.

United States Steel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Monday, May 13th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, May 10th. United States Steel's dividend payout ratio is currently 5.87%.

Hedge Funds Weigh In On United States Steel

A number of large investors have recently bought and sold shares of the business. Pacific Capital Wealth Advisors Inc. acquired a new stake in United States Steel in the fourth quarter worth about $25,000. Byrne Asset Management LLC boosted its holdings in United States Steel by 1,140.0% in the first quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company's stock worth $25,000 after acquiring an additional 570 shares in the last quarter. GAMMA Investing LLC acquired a new stake in United States Steel in the fourth quarter worth about $33,000. Riverview Trust Co acquired a new stake in United States Steel in the first quarter worth about $29,000. Finally, Pineridge Advisors LLC acquired a new stake in United States Steel in the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 81.92% of the company's stock.

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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