United States Steel Co. (NYSE:X) shares gapped up before the market opened on Thursday . The stock had previously closed at $37.02, but opened at $37.46. United States Steel shares last traded at $36.80, with a volume of 169167 shares trading hands.
A number of research analysts recently issued reports on the stock. Bank of America downgraded shares of United States Steel from a “buy” rating to a “neutral” rating and set a $50.00 target price on the stock. in a research report on Friday, March 2nd. ValuEngine upgraded shares of United States Steel from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Credit Suisse Group upped their price objective on shares of United States Steel from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, March 8th. Argus restated a “buy” rating and set a $52.00 price objective (up previously from $41.00) on shares of United States Steel in a report on Wednesday, February 21st. Finally, Vertical Group downgraded shares of United States Steel from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. United States Steel currently has an average rating of “Hold” and an average target price of $40.36.
The company has a current ratio of 1.63, a quick ratio of 1.02 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $6.52 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 0.87 and a beta of 3.03.
United States Steel (NYSE:X) last posted its earnings results on Thursday, April 26th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.03. United States Steel had a net margin of 4.62% and a return on equity of 17.92%. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the business posted ($0.83) EPS. The business’s revenue was up 15.6% compared to the same quarter last year. equities analysts expect that United States Steel Co. will post 5.27 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Thursday, May 10th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. United States Steel’s payout ratio is 10.31%.
In other news, VP Sara A. Greenstein sold 3,607 shares of the company’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $37.50, for a total value of $135,262.50. Following the completion of the sale, the vice president now owns 47,962 shares in the company, valued at approximately $1,798,575. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Christine S. Breves sold 11,853 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $38.47, for a total transaction of $455,984.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,661 shares of company stock valued at $867,803. Company insiders own 1.01% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. A.R.T. Advisors LLC grew its position in United States Steel by 1.7% during the first quarter. A.R.T. Advisors LLC now owns 83,900 shares of the basic materials company’s stock valued at $2,952,000 after buying an additional 1,400 shares during the period. Advisor Group Inc. grew its position in United States Steel by 11.8% during the fourth quarter. Advisor Group Inc. now owns 17,228 shares of the basic materials company’s stock valued at $606,000 after buying an additional 1,822 shares during the period. Municipal Employees Retirement System of Michigan grew its position in United States Steel by 3.5% during the first quarter. Municipal Employees Retirement System of Michigan now owns 54,650 shares of the basic materials company’s stock valued at $1,923,000 after buying an additional 1,830 shares during the period. Amalgamated Bank grew its position in United States Steel by 6.0% during the fourth quarter. Amalgamated Bank now owns 35,238 shares of the basic materials company’s stock valued at $1,240,000 after buying an additional 2,001 shares during the period. Finally, US Bancorp DE grew its position in United States Steel by 81.2% during the fourth quarter. US Bancorp DE now owns 4,563 shares of the basic materials company’s stock valued at $160,000 after buying an additional 2,045 shares during the period. Institutional investors own 71.98% 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. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.
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