United States Steel (NYSE:X) Shares Gap Up to $24.68


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United States Steel Co. (NYSE:X) shares gapped up prior to trading on Tuesday . The stock had previously closed at $24.68, but opened at $25.35. United States Steel shares last traded at $25.67, with a volume of 503,423 shares changing hands.

A number of analysts recently issued reports on X shares. BMO Capital Markets lifted their target price on United States Steel from $21.00 to $25.00 and gave the company a “market perform” rating in a research report on Monday, March 15th. Credit Suisse Group raised United States Steel from an “underperform” rating to an “outperform” rating and lifted their target price for the company from $15.00 to $35.00 in a research report on Tuesday. The Goldman Sachs Group started coverage on United States Steel in a research report on Thursday, April 15th. They issued a “neutral” rating and a $25.00 target price on the stock. TheStreet raised United States Steel from a “d” rating to a “c-” rating in a research report on Friday, January 29th. Finally, Argus reaffirmed a “hold” rating on shares of United States Steel in a research report on Monday, March 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $19.33.

The business has a 50-day simple moving average of $22.92 and a two-hundred day simple moving average of $17.69. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of -2.43 and a beta of 2.39. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.30 and a quick ratio of 1.54.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, April 29th. The basic materials company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.17. United States Steel had a negative return on equity of 18.78% and a negative net margin of 16.25%. As a group, equities analysts anticipate that United States Steel Co. will post -5.57 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 9th. Stockholders of record on Monday, May 10th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Friday, May 7th. United States Steel’s dividend payout ratio is presently 44.44%.

In other news, SVP Scott D. Buckiso sold 9,148 shares of the business’s stock in a transaction that occurred on Monday, March 29th. The stock was sold at an average price of $23.00, for a total transaction of $210,404.00. Following the completion of the sale, the senior vice president now owns 124,197 shares in the company, valued at $2,856,531. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Tracy A. Atkinson acquired 1,468 shares of United States Steel stock in a transaction dated Tuesday, February 16th. The shares were purchased at an average price of $17.07 per share, with a total value of $25,058.76. Following the acquisition, the director now owns 17,177 shares of the company’s stock, valued at $293,211.39. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 88,430 shares of company stock valued at $2,109,816. Corporate insiders own 1.70% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Newport Trust Co bought a new stake in shares of United States Steel in the fourth quarter valued at approximately $46,174,000. Norges Bank acquired a new position in United States Steel during the fourth quarter valued at approximately $43,987,000. Voloridge Investment Management LLC raised its position in United States Steel by 144.1% during the fourth quarter. Voloridge Investment Management LLC now owns 2,270,120 shares of the basic materials company’s stock valued at $38,070,000 after purchasing an additional 1,339,990 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in United States Steel by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,032,821 shares of the basic materials company’s stock valued at $34,091,000 after purchasing an additional 65,537 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in United States Steel by 5.4% during the fourth quarter. Nuveen Asset Management LLC now owns 1,821,245 shares of the basic materials company’s stock valued at $30,542,000 after purchasing an additional 93,368 shares in the last quarter. Institutional investors and hedge funds own 60.36% of the company’s stock.

United States Steel Company Profile (NYSE:X)

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

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