United States Steel Co. (NYSE:X) Plans $0.05 Quarterly Dividend

United States Steel Co. (NYSE:XGet Rating) announced a quarterly dividend on Thursday, April 28th, RTT News reports. Investors of record on Monday, May 9th will be given a dividend of 0.05 per share by the basic materials company on Wednesday, June 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.62%.

United States Steel has decreased its dividend by an average of 26.3% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. United States Steel has a payout ratio of 5.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect United States Steel to earn $3.09 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 6.5%.

NYSE X opened at $32.23 on Friday. United States Steel has a 52 week low of $17.98 and a 52 week high of $39.25. The company has a current ratio of 1.86, a quick ratio of 1.28 and a debt-to-equity ratio of 0.42. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of 2.21 and a beta of 1.99. The company has a 50-day moving average price of $33.34 and a two-hundred day moving average price of $26.93.

United States Steel (NYSE:XGet Rating) last posted its earnings results on Thursday, April 28th. The basic materials company reported $3.05 EPS for the quarter, topping the consensus estimate of $2.95 by $0.10. United States Steel had a net margin of 20.86% and a return on equity of 55.13%. The firm had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. United States Steel’s quarterly revenue was up 42.8% on a year-over-year basis. As a group, equities research analysts expect that United States Steel will post 9.67 earnings per share for the current fiscal year.

Several research firms have commented on X. JPMorgan Chase & Co. upped their target price on shares of United States Steel from $30.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, March 24th. The Goldman Sachs Group increased their price objective on shares of United States Steel from $28.00 to $31.00 and gave the company a “sell” rating in a report on Tuesday, March 22nd. Morgan Stanley upgraded shares of United States Steel from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $21.00 to $31.00 in a report on Sunday, March 6th. StockNews.com started coverage on shares of United States Steel in a report on Thursday, March 31st. They issued a “buy” rating for the company. Finally, Wolfe Research cut shares of United States Steel from a “market perform” rating to an “underperform” rating and set a $24.00 price objective for the company. in a report on Tuesday, January 11th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.30.

In other news, CFO Christine S. Breves sold 2,217 shares of the stock in a transaction on Thursday, April 14th. The shares were sold at an average price of $38.00, for a total transaction of $84,246.00. Following the transaction, the chief financial officer now owns 215,875 shares in the company, valued at approximately $8,203,250. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Christine S. Breves sold 22,387 shares of the stock in a transaction on Wednesday, April 6th. The stock was sold at an average price of $36.90, for a total transaction of $826,080.30. Following the transaction, the chief financial officer now owns 215,875 shares in the company, valued at approximately $7,965,787.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,838 shares of company stock valued at $6,688,783. Insiders own 1.20% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Deutsche Bank AG grew its position in shares of United States Steel by 1,622.8% in the fourth quarter. Deutsche Bank AG now owns 429,071 shares of the basic materials company’s stock valued at $10,216,000 after purchasing an additional 404,165 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its stake in United States Steel by 9.9% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 48,293 shares of the basic materials company’s stock valued at $1,150,000 after purchasing an additional 4,345 shares during the period. Strategic Wealth Advisors Group LLC boosted its stake in United States Steel by 45.8% during the 4th quarter. Strategic Wealth Advisors Group LLC now owns 17,183 shares of the basic materials company’s stock valued at $409,000 after purchasing an additional 5,397 shares during the period. Harbour Investments Inc. boosted its stake in United States Steel by 34.8% during the 4th quarter. Harbour Investments Inc. now owns 15,696 shares of the basic materials company’s stock valued at $374,000 after purchasing an additional 4,052 shares during the period. Finally, Bell Rock Capital LLC bought a new stake in United States Steel during the 4th quarter valued at approximately $204,000. Institutional investors own 68.19% of the company’s stock.

United States Steel Company Profile (Get Rating)

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through four segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, 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 iron ore and coke.

Featured Articles

Dividend History for United States Steel (NYSE:X)

Receive News & Ratings for United States Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United States Steel and related companies with MarketBeat.com's FREE daily email newsletter.