United States Steel (NYSE:X) PT Lowered to $43.00 at JPMorgan Chase & Co.

United States Steel (NYSE:X) had its price target trimmed by JPMorgan Chase & Co. from $47.00 to $43.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a neutral rating on the basic materials company’s stock.

A number of other research firms have also recently commented on X. StockNews.com started coverage on United States Steel in a research report on Monday, April 29th. They set a hold rating for the company. Wolfe Research upgraded United States Steel from a peer perform rating to an outperform rating and set a $46.00 target price for the company in a report on Tuesday, April 9th. BMO Capital Markets cut their price target on shares of United States Steel from $55.00 to $45.00 and set a market perform rating on the stock in a research note on Tuesday, March 19th. Finally, Morgan Stanley lowered shares of United States Steel from an overweight rating to an equal weight rating and raised their price objective for the company from $40.00 to $51.00 in a research note on Thursday, February 15th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $38.00.

United States Steel Stock Performance

Shares of X stock opened at $38.04 on Friday. United States Steel has a one year low of $20.40 and a one year high of $50.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.71. The firm’s 50 day moving average price is $41.29 and its 200-day moving average price is $41.62. The firm has a market cap of $8.55 billion, a P/E ratio of 11.16 and a beta of 2.06.

United States Steel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Monday, May 13th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. United States Steel’s payout ratio is 5.87%.

Institutional Investors Weigh In On United States Steel

A number of large investors have recently modified their holdings of X. Kingswood Wealth Advisors LLC acquired a new position in shares of United States Steel during the third quarter worth $214,000. Stratos Wealth Partners LTD. lifted its holdings in United States Steel by 12.9% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 20,799 shares of the basic materials company’s stock worth $676,000 after buying an additional 2,372 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of United States Steel by 6.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,001 shares of the basic materials company’s stock worth $2,046,000 after acquiring an additional 4,016 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of United States Steel by 6.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,243,678 shares of the basic materials company’s stock valued at $40,395,000 after acquiring an additional 77,225 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of United States Steel by 49.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 24,633 shares of the basic materials company’s stock worth $800,000 after acquiring an additional 8,205 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other 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.