United States Steel Target of Unusually High Options Trading (NYSE:X)

United States Steel Co. (NYSE:X) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 84,572 call options on the stock. This represents an increase of 86% compared to the typical volume of 45,357 call options.

United States Steel Stock Up 6.1 %

Shares of NYSE X opened at $40.73 on Friday. United States Steel has a 1 year low of $26.92 and a 1 year high of $50.20. The firm has a market capitalization of $9.17 billion, a PE ratio of 27.49 and a beta of 1.86. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average is $37.66 and its 200-day moving average is $37.83.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.77 billion. United States Steel had a return on equity of 6.01% and a net margin of 2.41%. The firm’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.36 earnings per share. Equities analysts expect that United States Steel will post 2.21 EPS for the current year.

United States Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Friday, November 8th. United States Steel’s dividend payout ratio (DPR) is presently 13.16%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on X shares. Morgan Stanley boosted their price target on shares of United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. StockNews.com started coverage on United States Steel in a research report on Monday, August 19th. They set a “hold” rating on the stock. BMO Capital Markets cut their price objective on United States Steel from $45.00 to $43.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. JPMorgan Chase & Co. upgraded United States Steel from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $42.00 in a report on Monday, September 9th. Finally, BNP Paribas raised United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Friday, September 6th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of United States Steel by 4,305.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,634,364 shares of the basic materials company’s stock worth $137,379,000 after buying an additional 3,551,870 shares during the last quarter. Castle Hook Partners LP bought a new stake in shares of United States Steel during the 3rd quarter worth approximately $91,712,000. KGH Ltd boosted its holdings in shares of United States Steel by 68.2% in the 2nd quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock valued at $160,839,000 after buying an additional 1,724,670 shares during the last quarter. Holocene Advisors LP bought a new position in shares of United States Steel in the third quarter valued at $51,620,000. Finally, Murchinson Ltd. increased its holdings in United States Steel by 66.5% during the first quarter. Murchinson Ltd. now owns 2,100,000 shares of the basic materials company’s stock worth $85,638,000 after buying an additional 838,653 shares during the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

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.