United States Steel (NYSE:X) Shares Gap Down to $40.86

United States Steel Co. (NYSE:XGet Free Report)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $40.86, but opened at $39.18. United States Steel shares last traded at $39.82, with a volume of 5,092,212 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of United States Steel in a report on Friday, January 12th. They issued a “neutral” rating and a $52.00 price objective on the stock. StockNews.com assumed coverage on shares of United States Steel in a report on Tuesday. They issued a “hold” rating on the stock. Finally, Morgan Stanley lowered shares of United States Steel from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $40.00 to $51.00 in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $32.78.

Get Our Latest Stock Analysis on X

United States Steel Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.22 and a current ratio of 1.76. The stock’s 50-day moving average is $46.63 and its 200 day moving average is $39.55. The stock has a market capitalization of $8.69 billion, a PE ratio of 11.07 and a beta of 2.02.

United States Steel (NYSE:XGet Free Report) last issued its quarterly earnings data on Friday, February 2nd. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.46. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same period last year, the firm posted $0.87 EPS. United States Steel’s revenue for the quarter was down 4.5% on a year-over-year basis. As a group, equities analysts expect that United States Steel Co. will post 3.19 earnings per share for the current year.

United States Steel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 12th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Friday, February 9th. United States Steel’s payout ratio is 5.70%.

Insider Activity

In other news, CEO David B. Burritt sold 252,458 shares of United States Steel stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $50.01, for a total value of $12,625,424.58. Following the sale, the chief executive officer now owns 581,609 shares of the company’s stock, valued at $29,086,266.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO David B. Burritt sold 252,458 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $50.01, for a total value of $12,625,424.58. Following the completion of the sale, the chief executive officer now owns 581,609 shares in the company, valued at $29,086,266.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Daniel R. Brown sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $49.77, for a total transaction of $248,850.00. Following the completion of the sale, the senior vice president now owns 86,968 shares of the company’s stock, valued at approximately $4,328,397.36. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On United States Steel

A number of hedge funds and other institutional investors have recently modified their holdings of X. Pacific Capital Wealth Advisors Inc. purchased a new stake in United States Steel in the fourth quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC grew its holdings in United States Steel by 103.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 618 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 314 shares during the period. GAMMA Investing LLC purchased a new stake in United States Steel in the fourth quarter valued at approximately $33,000. Aspect Partners LLC purchased a new stake in United States Steel in the fourth quarter valued at approximately $40,000. Finally, Pineridge Advisors LLC purchased a new stake in United States Steel in the fourth quarter valued at approximately $44,000. 74.60% of the stock is currently owned by hedge funds and other institutional investors.

United States Steel Company Profile

(Get Free Report)

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.

Further Reading

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