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The Stock Traders Purchase Large Volume of United States Steel Put Options
Shares of United States Steel (NYSE:X) traded down 1.68% on Thursday, hitting $20.50. 30,371,257 shares of the stock traded hands. The firm’s market cap is $3.58 billion. United States Steel has a 52-week low of $13.95 and a 52-week high of $41.83. The firm has a 50 day moving average price of $23.24 and a 200 day moving average price of $31.89.
United States Steel Co. (NYSE:X) saw some unusual options trading on Wednesday. Stock traders bought 51,595 put options on the stock. This is an increase of 184% compared to the typical daily volume of 18,183 put options.
United States Steel (NYSE:X) last posted its quarterly earnings results on Tuesday, April 25th. The basic materials company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by $1.18. United States Steel had a negative return on equity of 11.36% and a negative net margin of 4.29%. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same period in the previous year, the company posted ($2.15) EPS. United States Steel’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, equities analysts forecast that United States Steel will post $1.05 EPS for the current year. The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Wednesday, May 10th will be paid a dividend of $0.05 per share.
This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Monday, May 8th. United States Steel’s dividend payout ratio (DPR) is currently -6.83%.
Several research firms have recently issued reports on X. Credit Suisse Group AG upgraded shares of United States Steel from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $13.68 to $30.00 in a report on Wednesday, May 24th. Zacks Investment Research lowered shares of United States Steel from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 23rd. Cowen and Company lowered shares of United States Steel from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $60.00 to $21.00 in a report on Wednesday, May 10th. Longbow Research reissued a “neutral” rating on shares of United States Steel in a research report on Tuesday, May 9th. Finally, Barclays PLC cut their price target on shares of United States Steel from $34.00 to $24.00 and set an “equal weight” rating for the company in a research note on Thursday, May 4th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock.
The company presently has an average rating of “Hold” and a consensus price target of $30.49. In other United States Steel news, Director Stephen J. Girsky purchased 2,500 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were purchased at an average price of $19.94 per share, for a total transaction of $49,850.00. Following the completion of the transaction, the director now owns 21,872 shares in the company, valued at approximately $436,127.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Anthony Mascarenas acquired 1,500 shares of the stock in a transaction on Thursday, May 18th. The shares were purchased at an average price of $19.31 per share, for a total transaction of $28,965.00. Following the completion of the transaction, the director now owns 12,377 shares in the company, valued at approximately $238,999.87. The disclosure for this purchase can be found here. Insiders acquired 14,000 shares of company stock worth $278,415 over the last three months. 1.31% of the stock is currently owned by corporate insiders.