On Friday, an unusually high volume of options trading activity involving US Steel Co. was spotted in the market (NYSE:X). Stock traders bought put options for the company a total of 95,913 times, which drew attention to the company. Compared to the average number of puts, which was 48,284, this represents an increase of about 99%.
United States Steel (NYSE:X) released the company’s quarterly earnings information to the public on Thursday, July 28. The basic materials company reported quarterly earnings of $3.86 per share, up $0.01 from the average forecast of $3.85 per share. to share. The company’s revenue for the quarter was also $3.86 billion. However, the actual revenue the company reported for the quarter was $6.29 billion, significantly higher than the $5.82 billion that analysts had expected for the period. United States Steel had a return on equity of 49.21% and the company’s net margin was 21.59%. These two numbers are percentages. The company’s quarterly revenue increased by 25.2% compared to the results obtained during the same quarter last year. Earnings per share totaled $3.37 for the company in the same quarter a year earlier compared to the current year. This year, industry experts expect United States Steel to earn revenue equivalent to $9.87 per share.
On Thursday, July 28, United States Steel announced that its Board of Directors had approved a stock repurchase program with a total value of $500,000,000.00 for outstanding shares. This program aims to reduce the number of shares currently held by shareholders. Under the terms of this authorization, Basic Materials Company may repurchase up to 8.8% of the shares it currently has available for purchase on the open market. When a company says it wants to buy back its shares, it’s often a sign that management thinks the stock’s price is lower than its value.
On Friday, trading on the NYSE X resulted in a loss of $1.12, taking the price to $18.56. Only 381,835 shares were traded, a significant drop from the daily average of 12,951,290 shares. The company’s price/earnings ratio, which is 1.08, and its beta value, which is 2.15, are relatively low. The company currently has a market capitalization of $4.40 billion. United States Steel currently has a 52 week low at $16.41 and a 52 week high at $39.25. There is a leverage ratio of 0.38, a quick ratio at a current ratio of 1.32, and a current ratio at a quick ratio of 1.98. All these ratios are relative to each other. The company’s price is currently trading at a moving average of $22.43 over the past 50 days, while the moving average over the past 200 days is $25.92.
Additionally, the company revealed that it would pay a quarterly dividend, which was paid on September 8. The dividend payment of $0.05 was made on August 8 to shareholders whose information was already on file. This results in a dividend payout of $0.20 per year, corresponding to a dividend yield of 1.08% over a full year. The date representing the ex-dividend date was last Friday, August 5; it was also the date of payment of the dividend. The dividend payout ratio for United States Steel currently stands at 1.17%.
Recently, several research analysts have produced reports on the stock based on their findings and related to the topic. In a research note published on August 1, Morgan Stanley raised its target price on United States Steel from $20.00 to $21.50. Additionally, they gave the company an “equal weight” rating. Credit Suisse Group cut its price target on United States Steel shares from $44.00 to $37.00 in a research note released Friday, September 16. Despite this price drop, the “outperformance” rating of Credit Suisse Group stock has not been changed. In a Goldman Sachs Group research report distributed on May 31, 2018, a lower price target was predicted for United States Steel. The new price target for the company was set at $22.00 and the company’s rating was changed to “sell”. As noted in a research note published Tuesday, September 13, Citigroup has raised its price target for United States Steel to $27.00. Shares of United States Steel (NYSE:X) have been assigned a price target of $23.00 per share by research firm UBS Group. The company’s findings report was released on Monday, June 20. This was the last point that was discussed during the meeting. Two of the equity research analysts recommend buying the stock, three recommend keeping the position you currently hold, and three recommend selling the stock. Figures provided by Bloomberg indicate that the company’s current rating is “Hold” and the average price target has been set at $25.61.
In recent months, several institutional investors and hedge funds have either increased the proportion of their investments in the company or decreased the proportion of their investments in the company. Bank of Montreal increased the proportion of its holdings invested in United States Steel by 118.7% during the fourth quarter. Bank of Montreal can now hold a total of 166,107 shares in the capital of the basic materials business, which are currently valued at $3,862,000 following the purchase of an additional 90,168 shares during the period in question. . In the fourth quarter, Geode Capital Management LLC increased the number of United States Steel shares it held by 10.6%, bringing its total ownership percentage to 100%. Shares of the basic materials company are now wholly owned by the 4,441,360 shares of Geode Capital Management LLC, thanks to the acquisition of 424,496 additional shares during the last quarter. The total value of shares held by Geode Capital Management LLC at the most recent market close was $106,304,000. During the last quarter of 2018, the investment portfolio managed by Blair William & Co., IL increased the percentage of United States Steel stocks it held by 7.2%. Blair William & Co. IL now owns an additional 3,706 shares of the company after purchasing 54,916 shares last quarter for a total payment of $1,308,000. The company deals with basic materials. Quinn Opportunity Partners LLC made a new investment of $10,349,000 in United States Steel during the last three months of 2018. Last but not least, during the fourth quarter, Journey Strategic Wealth LLC purchased an additional position in United States Steel which was valued at approximately $260,000. Institutional investors hold 79.08% of the company’s shares, making them the majority shareholder.