United States Steel (NYSE:X) Shares Gap Up – Time to Buy?

United States Steel Co. (NYSE:X) shares gapped up prior to trading on Friday . The stock had previously closed at $42.98, but opened at $44.80. United States Steel shares last traded at $43.70, with a volume of 3,025,079 shares.

Analyst Upgrades and Downgrades

X has been the topic of a number of research reports. Morgan Stanley raised their price objective on United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday, March 7th. BMO Capital Markets boosted their price objective on shares of United States Steel from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. JPMorgan Chase & Co. upped their price objective on shares of United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Jefferies Financial Group decreased 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. Finally, Bank of America started coverage on shares of United States Steel in a research report on Monday, January 6th. They set a “neutral” rating and a $35.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.32.

United States Steel Stock Performance

The business has a fifty day moving average of $38.38 and a 200 day moving average of $37.07. The company has a market cap of $9.80 billion, a P/E ratio of 29.04, a P/E/G ratio of 1.53 and a beta of 1.86. The company has a quick ratio of 0.91, a current ratio of 1.55 and a debt-to-equity ratio of 0.36.

United States Steel (NYSE:X) last posted its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) 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, equities analysts predict that United States Steel Co. will post 1.43 EPS for the current year.

United States Steel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, February 10th. United States Steel’s dividend payout ratio is currently 13.42%.

Hedge Funds Weigh In On United States Steel

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its position in shares of United States Steel by 36.1% in the 3rd quarter. Cerity Partners LLC now owns 12,613 shares of the basic materials company’s stock worth $446,000 after purchasing an additional 3,344 shares in the last quarter. Larson Financial Group LLC boosted its holdings in United States Steel by 125.0% in the third quarter. Larson Financial Group LLC now owns 2,887 shares of the basic materials company’s stock worth $102,000 after acquiring an additional 1,604 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its stake in shares of United States Steel by 60.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 19,769 shares of the basic materials company’s stock worth $698,000 after acquiring an additional 7,460 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of United States Steel by 16.8% during the third quarter. Bank of Montreal Can now owns 63,203 shares of the basic materials company’s stock valued at $2,251,000 after acquiring an additional 9,112 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of United States Steel by 0.7% in the 3rd quarter. D.A. Davidson & CO. now owns 44,450 shares of the basic materials company’s stock worth $1,570,000 after purchasing an additional 301 shares during the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

United States Steel Company Profile

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.