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

United States Steel Co. (NYSE:X) reached 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. The stock had previously closed at $43.00.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. BMO Capital Markets upped their price target 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. Bank of America initiated coverage on United States Steel in a report on Monday, January 6th. They set a “neutral” rating and a $35.00 price target for the company. JPMorgan Chase & Co. increased their price objective on United States Steel from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Morgan Stanley raised their price target on shares of 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, Jefferies Financial Group cut their price objective on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.32.

United States Steel Stock Performance

The stock’s fifty day moving average price is $38.38 and its two-hundred day moving average price is $37.07. The company has a market cap of $9.73 billion, a P/E 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 quick ratio of 0.91 and a current ratio of 1.55.

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

United States Steel Dividend Announcement

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

Hedge Funds Weigh In On United States Steel

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of United States Steel by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 20,558,732 shares of the basic materials company’s stock valued at $698,791,000 after purchasing an additional 186,994 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in United States Steel by 11.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,291,906 shares of the basic materials company’s stock worth $315,790,000 after buying an additional 929,762 shares during the period. Donald Smith & CO. Inc. grew its holdings in United States Steel by 1.4% during the 4th quarter. Donald Smith & CO. Inc. now owns 4,788,075 shares of the basic materials company’s stock worth $162,747,000 after acquiring an additional 68,230 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in United States Steel by 3.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,773,225 shares of the basic materials company’s stock valued at $162,242,000 after acquiring an additional 174,394 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of United States Steel by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 3,862,064 shares of the basic materials company’s stock valued at $131,313,000 after acquiring an additional 22,380 shares during the last quarter. 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.