United States Steel Corp. (X) Downgraded by Rosenblatt Securities to “Neutral”
Rosenblatt Securities downgraded shares of United States Steel Corp. (NYSE:X) from a buy rating to a neutral rating in a report issued on Monday. The analysts noted that the move was a valuation call.
X has been the topic of several other reports. Zacks Investment Research downgraded shares of United States Steel Corp. from a buy rating to a hold rating in a research report on Monday, August 8th. Vetr upgraded shares of United States Steel Corp. from a hold rating to a strong-buy rating and set a $30.00 price target on the stock in a research report on Monday, November 14th. KeyCorp downgraded shares of United States Steel Corp. from a sector weight rating to an underweight rating and decreased their price target for the stock from $21.81 to $18.00 in a research report on Friday, August 19th. Morgan Stanley upgraded shares of United States Steel Corp. from an equal weight rating to an overweight rating and increased their price target for the stock from $19.00 to $46.00 in a research report on Monday, November 14th. Finally, Jefferies Group set a $18.00 price target on shares of United States Steel Corp. and gave the stock a hold rating in a research report on Thursday, September 15th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $22.00.
United States Steel Corp. (NYSE:X) traded up 7.4138% during midday trading on Monday, hitting $30.9137. 8,669,076 shares of the company were exchanged. The stock has a 50 day moving average of $20.78 and a 200-day moving average of $19.32. United States Steel Corp. has a 1-year low of $6.15 and a 1-year high of $30.92. The stock’s market capitalization is $5.33 billion.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Friday, November 11th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.69%. The ex-dividend date is Tuesday, November 8th. United States Steel Corp.’s dividend payout ratio (DPR) is presently -2.19%.
In other news, VP David J. Rintoul sold 18,330 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $28.19, for a total value of $516,722.70. Following the completion of the transaction, the vice president now owns 61,957 shares of the company’s stock, valued at $1,746,567.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.31% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in shares of United States Steel Corp. during the third quarter worth approximately $103,000. D.A. Davidson & CO. raised its position in United States Steel Corp. by 65.1% in the third quarter. D.A. Davidson & CO. now owns 5,550 shares of the company’s stock worth $104,000 after buying an additional 2,188 shares during the period. Advisor Group Inc. purchased a new position in United States Steel Corp. during the second quarter worth $120,000. DekaBank Deutsche Girozentrale raised its position in United States Steel Corp. by 61.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 8,337 shares of the company’s stock worth $133,000 after buying an additional 3,160 shares during the period. Finally, LS Investment Advisors LLC raised its position in United States Steel Corp. by 71.9% in the second quarter. LS Investment Advisors LLC now owns 8,787 shares of the company’s stock worth $148,000 after buying an additional 3,675 shares during the period. 65.67% of the stock is currently owned by institutional investors.
About United States Steel Corp.
United States Steel Corporation (U. S. Steel) is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).
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