United States Steel Co. (NYSE:X) announced a quarterly dividend on Friday, April 30th, investing.com reports. Investors of record on Monday, May 10th will be given a dividend of 0.01 per share by the basic materials company on Wednesday, June 9th. This represents a $0.04 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Friday, May 7th.
United States Steel has decreased its dividend payment by 80.0% over the last three years and has raised its dividend every year for the last 1 years. United States Steel has a payout ratio of 0.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect United States Steel to earn ($1.66) per share next year, which means the company may not be able to cover its $0.04 annual dividend with an expected future payout ratio of -2.4%.
Shares of NYSE X opened at $23.01 on Friday. United States Steel has a fifty-two week low of $6.58 and a fifty-two week high of $27.40. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.54 and a current ratio of 2.30. The company has a market cap of $6.18 billion, a price-to-earnings ratio of -2.27 and a beta of 2.39. The business’s 50 day moving average price is $22.95 and its 200-day moving average price is $17.47.
In other news, Director Tracy A. Atkinson purchased 1,468 shares of the firm’s stock in a transaction on Tuesday, February 16th. The stock was acquired at an average cost of $17.07 per share, with a total value of $25,058.76. Following the completion of the transaction, the director now owns 17,177 shares in the company, valued at approximately $293,211.39. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Scott D. Buckiso sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, March 23rd. The shares were sold at an average price of $21.17, for a total transaction of $529,250.00. Following the completion of the sale, the senior vice president now owns 133,345 shares in the company, valued at $2,822,913.65. The disclosure for this sale can be found here. Insiders have sold a total of 88,430 shares of company stock worth $2,109,816 in the last ninety days. Insiders own 1.70% of the company’s stock.
A number of equities research analysts recently weighed in on X shares. Deutsche Bank Aktiengesellschaft upgraded shares of United States Steel from a “sell” rating to a “buy” rating in a report on Friday, January 8th. Morgan Stanley boosted their price target on United States Steel from $18.00 to $24.00 and gave the company an “equal weight” rating in a report on Thursday, March 18th. Zacks Investment Research upgraded United States Steel from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Monday, March 15th. Argus reaffirmed a “hold” rating on shares of United States Steel in a research report on Monday, March 22nd. Finally, The Goldman Sachs Group initiated coverage on United States Steel in a research report on Thursday, April 15th. They set a “neutral” rating and a $25.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $17.38.
About United States Steel
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: North American Flat-Rolled (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets and tin mill products, as well as all iron ore and coke.
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