United States Steel (NYSE:X) Shares Gap Up – Still a Buy?

United States Steel Co. (NYSE:X) shares gapped up prior to trading on Monday . The stock had previously closed at $39.00, but opened at $40.06. United States Steel shares last traded at $40.12, with a volume of 5,177,370 shares.

Analyst Ratings Changes

X has been the topic of a number of research analyst reports. Bank of America initiated coverage on United States Steel in a report on Monday, January 6th. They issued a “neutral” rating and a $35.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on United States Steel from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Jefferies Financial Group lowered their price objective on United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a report on Monday, January 6th. BMO Capital Markets lowered their price objective on United States Steel from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Finally, Morgan Stanley upped their target price on United States Steel from $39.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, United States Steel presently has an average rating of “Moderate Buy” and an average target price of $40.70.

United States Steel Trading Up 4.0 %

The company has a current ratio of 1.55, a quick ratio of 0.91 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average of $37.40 and a two-hundred day moving average of $36.68. The stock has a market capitalization of $9.39 billion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 1.53 and a beta of 1.86.

United States Steel (NYSE:X) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. On average, research analysts expect that United States Steel Co. will post 1.43 EPS for the current year.

United States Steel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, February 10th. United States Steel’s dividend payout ratio is presently 13.42%.

Institutional Investors Weigh In On United States Steel

Institutional investors have recently modified their holdings of the business. Bessemer Group Inc. grew its holdings in United States Steel by 64.0% during the fourth quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 277 shares during the period. Ameliora Wealth Management Ltd. acquired a new position in United States Steel during the fourth quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new position in United States Steel during the fourth quarter valued at approximately $30,000. Parkworth Wealth Management Inc. acquired a new position in United States Steel during the fourth quarter valued at approximately $31,000. Finally, Lee Danner & Bass Inc. acquired a new position in United States Steel during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

About United States Steel

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.