United States Steel (NYSE:X) Shares Gap Up to $19.58

Shares of United States Steel Co. (NYSE:XGet Rating) gapped up before the market opened on Friday . The stock had previously closed at $19.58, but opened at $20.80. United States Steel shares last traded at $20.35, with a volume of 240,422 shares.

A number of equities research analysts have weighed in on the stock. Credit Suisse Group decreased their price target on shares of United States Steel from $49.00 to $44.00 and set an “outperform” rating on the stock in a research note on Friday. BMO Capital Markets lowered their price target on United States Steel from $30.00 to $23.00 in a research note on Friday. JPMorgan Chase & Co. lowered their target price on United States Steel from $34.00 to $28.00 and set an “underweight” rating for the company in a research note on Tuesday. The Goldman Sachs Group cut their price objective on United States Steel from $36.00 to $22.00 and set a “sell” rating for the company in a report on Tuesday, May 31st. Finally, StockNews.com upgraded United States Steel from a “hold” rating to a “buy” rating in a research report on Tuesday, May 17th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, United States Steel presently has an average rating of “Hold” and an average target price of $30.78.

The company has a 50-day moving average of $28.05 and a two-hundred day moving average of $27.07. The company has a market capitalization of $5.12 billion, a P/E ratio of 1.19 and a beta of 2.01. The company has a quick ratio of 1.30, a current ratio of 1.90 and a debt-to-equity ratio of 0.40.

United States Steel (NYSE:XGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The basic materials company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.05. United States Steel had a return on equity of 54.02% and a net margin of 23.01%. The company had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same period in the prior year, the company earned $1.08 earnings per share. The firm’s revenue was up 42.8% on a year-over-year basis. As a group, equities analysts expect that United States Steel Co. will post 10.98 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 8th. Shareholders of record on Monday, May 9th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, May 6th. This represents a $0.20 annualized dividend and a yield of 1.02%. United States Steel’s dividend payout ratio (DPR) is presently 1.16%.

In related news, SVP Duane D. Holloway sold 40,346 shares of United States Steel stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $37.71, for a total value of $1,521,447.66. Following the sale, the senior vice president now directly owns 72,419 shares in the company, valued at approximately $2,730,920.49. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David B. Burritt sold 43,530 shares of United States Steel stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $38.00, for a total value of $1,654,140.00. Following the completion of the sale, the chief executive officer now owns 774,043 shares in the company, valued at $29,413,634. The disclosure for this sale can be found here. Insiders sold a total of 123,644 shares of company stock valued at $4,613,327 in the last three months. Insiders own 1.20% of the company’s stock.

Several institutional investors have recently modified their holdings of X. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of United States Steel by 1.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 159,943 shares of the basic materials company’s stock worth $3,117,000 after purchasing an additional 2,795 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of United States Steel during the 3rd quarter valued at approximately $60,000. Point72 Asset Management L.P. raised its position in shares of United States Steel by 143.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 188,045 shares of the basic materials company’s stock valued at $4,131,000 after buying an additional 110,845 shares during the period. MML Investors Services LLC raised its position in shares of United States Steel by 16.9% during the 3rd quarter. MML Investors Services LLC now owns 53,814 shares of the basic materials company’s stock valued at $1,182,000 after buying an additional 7,799 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of United States Steel by 318.4% during the 3rd quarter. Wellington Management Group LLP now owns 255,379 shares of the basic materials company’s stock valued at $5,611,000 after buying an additional 194,346 shares during the period. Institutional investors and hedge funds own 72.56% 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 four segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, 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 iron ore and coke.

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