United States Steel (X) Shares Gap Down to $20.58

United States Steel Co. (NYSE:X)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $20.72, but opened at $20.58. United States Steel shares last traded at $20.00, with a volume of 8853586 shares.

A number of brokerages have commented on X. TD Securities reiterated an “average” rating on shares of United States Steel in a report on Monday, November 12th. BMO Capital Markets restated a “hold” rating and set a $26.00 price objective on shares of United States Steel in a report on Wednesday, December 19th. Longbow Research cut their price objective on shares of United States Steel from $49.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, November 27th. UBS Group upgraded shares of United States Steel from a “sell” rating to a “neutral” rating and cut their price objective for the company from $28.00 to $22.00 in a report on Monday, December 10th. Finally, Citigroup downgraded shares of United States Steel from a “buy” rating to a “neutral” rating and cut their price objective for the company from $40.00 to $23.00 in a report on Wednesday, January 9th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $31.61.

The company has a quick ratio of 0.86, a current ratio of 1.51 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 3.59, a P/E/G ratio of 1.10 and a beta of 2.78.

United States Steel (NYSE:X) last posted its quarterly earnings data on Wednesday, January 30th. The basic materials company reported $1.82 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.83 by ($0.01). United States Steel had a net margin of 7.86% and a return on equity of 25.39%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the company posted $0.76 earnings per share. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. Research analysts predict that United States Steel Co. will post 2.38 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Wednesday, February 13th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Tuesday, February 12th. United States Steel’s dividend payout ratio (DPR) is presently 3.73%.

In related news, CFO Kevin Bradley bought 10,000 shares of the business’s stock in a transaction on Thursday, December 13th. The stock was acquired at an average cost of $20.33 per share, with a total value of $203,300.00. Following the purchase, the chief financial officer now directly owns 112,830 shares of the company’s stock, valued at $2,293,833.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.01% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. We Are One Seven LLC purchased a new position in United States Steel during the 4th quarter valued at about $25,000. Quantamental Technologies LLC purchased a new position in United States Steel during the 4th quarter valued at about $33,000. Rational Advisors LLC boosted its holdings in United States Steel by 999.7% during the 4th quarter. Rational Advisors LLC now owns 3,453 shares of the basic materials company’s stock valued at $63,000 after acquiring an additional 3,139 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in United States Steel by 1,747.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,290,225 shares of the basic materials company’s stock valued at $71,000 after acquiring an additional 1,220,388 shares during the period. Finally, Destination Wealth Management purchased a new position in United States Steel during the 4th quarter valued at about $84,000. Institutional investors and hedge funds own 64.05% of the company’s stock.

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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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