United States Steel (NYSE:X) Lifted to “Overweight” at Morgan Stanley

Morgan Stanley upgraded shares of United States Steel (NYSE:X) from an equal weight rating to an overweight rating in a research report report published on Monday, Marketbeat reports. Morgan Stanley currently has $48.00 price target on the basic materials company’s stock, down from their previous price target of $51.00.

Several other research firms have also recently weighed in on X. BMO Capital Markets cut their price objective on shares of United States Steel from $55.00 to $45.00 and set a market perform rating for the company in a research report on Tuesday, March 19th. JPMorgan Chase & Co. cut their price target on shares of United States Steel from $47.00 to $43.00 and set a neutral rating for the company in a report on Friday, May 3rd. Wolfe Research raised shares of 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 note on Tuesday, April 9th. Finally, StockNews.com began coverage on United States Steel in a research note on Monday, April 29th. They set a hold rating for the company. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $38.00.

United States Steel Stock Down 0.3 %

X opened at $38.23 on Monday. The stock has a fifty day moving average of $40.74 and a 200-day moving average of $41.62. The company has a market capitalization of $8.60 billion, a P/E ratio of 11.21 and a beta of 2.06. United States Steel has a fifty-two week low of $20.40 and a fifty-two week 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.

United States Steel Dividend Announcement

The business 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. This represents a $0.20 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Friday, May 10th. United States Steel’s dividend payout ratio is presently 5.87%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in X. Byrne Asset Management LLC increased its position in shares of United States Steel by 1,140.0% during 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. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of United States Steel in the fourth quarter worth approximately $25,000. Riverview Trust Co bought a new position in shares of United States Steel in the first quarter valued at approximately $29,000. Wolff Wiese Magana LLC boosted its position in shares of United States Steel by 181.4% during the third quarter. Wolff Wiese Magana LLC now owns 985 shares of the basic materials company’s stock valued at $32,000 after buying an additional 635 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in United States Steel during the fourth quarter worth $33,000. 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.