United States Steel (NYSE:X) Research Coverage Started at StockNews.com

Research analysts at StockNews.com began coverage on shares of United States Steel (NYSE:X) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the basic materials company’s stock.

Several other research analysts have also recently weighed in on the company. Morgan Stanley upgraded United States Steel from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $51.00 to $48.00 in a research report on Monday. BMO Capital Markets cut their target price on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a report on Tuesday, March 19th. Wolfe Research raised shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. cut their price objective on shares of United States Steel from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Friday. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $38.00.

United States Steel Trading Up 4.3 %

NYSE X opened at $38.04 on Tuesday. The company has a fifty day moving average of $41.29 and a 200 day moving average of $41.62. The company has a market capitalization of $8.55 billion, a PE ratio of 11.16 and a beta of 2.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.71 and a quick ratio of 1.14. United States Steel has a 1 year low of $20.40 and a 1 year high of $50.20.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in X. Third Point LLC lifted its stake in United States Steel by 15.8% in the 4th quarter. Third Point LLC now owns 5,500,000 shares of the basic materials company’s stock worth $267,575,000 after purchasing an additional 750,000 shares in the last quarter. Donald Smith & CO. Inc. lifted its position in United States Steel by 11.0% during the fourth quarter. Donald Smith & CO. Inc. now owns 4,513,531 shares of the basic materials company’s stock worth $219,583,000 after buying an additional 447,186 shares in the last quarter. KGH Ltd boosted its stake in United States Steel by 7.5% during the third quarter. KGH Ltd now owns 4,488,769 shares of the basic materials company’s stock worth $145,795,000 after buying an additional 315,000 shares during the last quarter. Norges Bank purchased a new stake in United States Steel in the 4th quarter valued at $200,952,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of United States Steel by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,498,737 shares of the basic materials company’s stock worth $121,564,000 after acquiring an additional 94,080 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.