United States Steel Corporation (X) Shares Gap Down to $0.00

United States Steel Corporation (NYSE:X) gapped down prior to trading on Thursday . The stock had previously closed at ($25.25), but opened at $0.00. United States Steel Corporation shares last traded at $0.00, with a volume of 14647100 shares changing hands.

Several equities research analysts have commented on the stock. Deutsche Bank AG raised shares of United States Steel Corporation from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Friday, June 23rd. Standpoint Research downgraded shares of United States Steel Corporation from a “buy” rating to a “reduce” rating in a research note on Tuesday, September 5th. BidaskClub raised shares of United States Steel Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Cowen and Company set a $21.00 target price on shares of United States Steel Corporation and gave the company a “hold” rating in a research note on Thursday, June 15th. Finally, Axiom Securities reissued a “sell” rating on shares of United States Steel Corporation in a research report on Thursday, July 13th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $28.29.

The company has a market capitalization of $4.17 billion, a P/E ratio of 150.82 and a beta of 2.88. The stock has a 50 day moving average price of $25.03 and a 200-day moving average price of $25.65.

United States Steel Corporation (NYSE:X) last issued its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.66. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.98 billion. United States Steel Corporation had a net margin of 0.24% and a return on equity of 6.50%. The firm’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.32) EPS. On average, equities analysts forecast that United States Steel Corporation will post $1.76 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Wednesday, August 9th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.84%. The ex-dividend date was Monday, August 7th. United States Steel Corporation’s dividend payout ratio (DPR) is presently 125.00%.

In other United States Steel Corporation news, CFO Kevin Bradley acquired 36,762 shares of the company’s stock in a transaction on Friday, September 8th. The shares were acquired at an average cost of $27.23 per share, with a total value of $1,001,029.26. Following the completion of the acquisition, the chief financial officer now directly owns 30,415 shares in the company, valued at $828,200.45. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eugene Sperling acquired 1,000 shares of the company’s stock in a transaction on Friday, September 15th. The shares were acquired at an average cost of $25.16 per share, for a total transaction of $25,160.00. Following the completion of the acquisition, the director now owns 3,009 shares of the company’s stock, valued at $75,706.44. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 64,597 shares of company stock worth $1,764,452. Insiders own 1.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in X. BlackRock Inc. increased its position in shares of United States Steel Corporation by 12,021.7% during the first quarter. BlackRock Inc. now owns 14,279,755 shares of the basic materials company’s stock valued at $482,799,000 after buying an additional 14,161,952 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in shares of United States Steel Corporation during the second quarter valued at about $37,749,000. Vanguard Group Inc. increased its position in shares of United States Steel Corporation by 10.1% during the first quarter. Vanguard Group Inc. now owns 16,743,496 shares of the basic materials company’s stock valued at $566,096,000 after buying an additional 1,539,412 shares during the period. Hodges Capital Management Inc. increased its position in shares of United States Steel Corporation by 160.2% during the second quarter. Hodges Capital Management Inc. now owns 1,588,774 shares of the basic materials company’s stock valued at $35,175,000 after buying an additional 978,199 shares during the period. Finally, Jennison Associates LLC bought a new stake in shares of United States Steel Corporation during the second quarter valued at about $20,786,000. Hedge funds and other institutional investors own 63.36% of the company’s stock.

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About United States Steel Corporation

United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).

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