Morgan Stanley Upgrades United States Steel (NYSE:X) to Overweight

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

X has been the topic of several other research reports. StockNews.com began coverage on United States Steel in a research note on Monday, April 29th. They issued a hold rating on the stock. JPMorgan Chase & Co. decreased their target price on shares of United States Steel from $47.00 to $43.00 and set a neutral rating on the stock in a research note on Friday, May 3rd. BMO Capital Markets dropped their price target 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. Finally, Wolfe Research raised shares of United States Steel from a peer perform rating to an outperform rating and set a $46.00 price objective for the company in a research note on Tuesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $38.00.

United States Steel Price Performance

Shares of United States Steel stock opened at $38.23 on Monday. The stock has a market cap of $8.60 billion, a P/E ratio of 11.21 and a beta of 2.06. 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 stock’s fifty day moving average is $40.74 and its 200 day moving average is $41.62. United States Steel has a one year low of $20.40 and a one year high of $50.20.

United States Steel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Monday, May 13th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Friday, May 10th. United States Steel’s dividend payout ratio (DPR) is presently 5.87%.

Institutional Trading of United States Steel

Hedge funds have recently bought and sold shares of the stock. SummerHaven Investment Management LLC boosted its position in shares of United States Steel by 0.9% during the 4th quarter. SummerHaven Investment Management LLC now owns 29,928 shares of the basic materials company’s stock valued at $1,456,000 after acquiring an additional 278 shares during the last quarter. Parallel Advisors LLC lifted its position in United States Steel by 28.7% during the fourth quarter. Parallel Advisors LLC now owns 1,363 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 304 shares during the last quarter. D.A. Davidson & CO. grew its stake in shares of United States Steel by 0.9% in the 3rd quarter. D.A. Davidson & CO. now owns 32,770 shares of the basic materials company’s stock worth $1,064,000 after buying an additional 307 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of United States Steel by 18.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,004 shares of the basic materials company’s stock worth $97,000 after buying an additional 313 shares during the last quarter. Finally, Diversified Trust Co increased its holdings in shares of United States Steel by 4.0% in the 1st quarter. Diversified Trust Co now owns 8,373 shares of the basic materials company’s stock worth $341,000 after buying an additional 324 shares during the last quarter. Hedge funds and other 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.