Traders Buy High Volume of United States Steel Call Options (NYSE:X)

United States Steel Co. (NYSE:X) was the recipient of unusually large options trading activity on Monday. Traders bought 101,458 call options on the stock. This represents an increase of approximately 42% compared to the typical volume of 71,636 call options.

United States Steel Price Performance

Shares of NYSE:X traded up $1.88 during midday trading on Monday, hitting $40.88. The company’s stock had a trading volume of 8,186,224 shares, compared to its average volume of 6,914,197. The business’s 50 day simple moving average is $37.09 and its 200 day simple moving average is $36.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 1.55. The company has a market cap of $9.21 billion, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86. United States Steel has a 12-month low of $26.92 and a 12-month high of $43.35.

United States Steel (NYSE:X) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. On average, analysts forecast that United States Steel will post 1.43 EPS for the current year.

United States Steel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, February 10th. United States Steel’s dividend payout ratio is presently 13.42%.

Institutional Investors Weigh In On United States Steel

A number of institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of United States Steel in the fourth quarter valued at approximately $130,731,000. Castle Hook Partners LP acquired a new position in shares of United States Steel in the third quarter valued at approximately $91,712,000. Forest Avenue Capital Management LP acquired a new position in shares of United States Steel in the fourth quarter valued at approximately $50,795,000. Holocene Advisors LP acquired a new position in shares of United States Steel in the third quarter valued at approximately $51,620,000. Finally, NWI Management LP acquired a new position in shares of United States Steel in the fourth quarter valued at approximately $48,946,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on X shares. Jefferies Financial Group dropped their target price on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Bank of America began coverage on shares of United States Steel in a research note on Monday, January 6th. They issued a “neutral” rating and a $35.00 price objective on the stock. BMO Capital Markets cut their price objective on shares of United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Morgan Stanley increased their price objective on shares of United States Steel from $39.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of United States Steel from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, United States Steel currently has an average rating of “Moderate Buy” and a consensus price target of $40.70.

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.