United States Steel Co. (NYSE:X)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $38.61, but opened at $40.24. United States Steel shares last traded at $38.77, with a volume of 12143605 shares traded.
X has been the subject of a number of research analyst reports. KeyCorp reaffirmed a “hold” rating on shares of United States Steel in a research report on Friday, November 17th. ValuEngine raised shares of United States Steel from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Axiom Securities raised shares of United States Steel from a “sell” rating to a “hold” rating and reduced their price objective for the stock from $41.83 to $18.55 in a research report on Monday, December 11th. Longbow Research raised shares of United States Steel from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 20th. Finally, Cowen reaffirmed a “hold” rating and set a $40.00 price objective on shares of United States Steel in a research report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $37.00.
The company has a quick ratio of 1.11, a current ratio of 1.75 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $7,080.00, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 1.36 and a beta of 2.79.
The company also recently announced a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 9th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Thursday, February 8th. United States Steel’s dividend payout ratio is currently 11.63%.
In related news, CEO David B. Burritt sold 36,072 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $39.95, for a total value of $1,441,076.40. Following the completion of the transaction, the chief executive officer now owns 166,411 shares of the company’s stock, valued at $6,648,119.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Sara A. Greenstein sold 2,613 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $45.33, for a total value of $118,447.29. Following the completion of the transaction, the vice president now directly owns 51,250 shares of the company’s stock, valued at approximately $2,323,162.50. The disclosure for this sale can be found here. Insiders have sold 128,831 shares of company stock valued at $5,195,060 in the last three months. Insiders own 1.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of X. Raymond James Financial Services Advisors Inc. raised its stake in United States Steel by 12,104.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 145,251 shares of the basic materials company’s stock valued at $3,727,000 after purchasing an additional 146,461 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in United States Steel in the third quarter valued at about $426,000. Canada Pension Plan Investment Board raised its stake in United States Steel by 63.1% in the third quarter. Canada Pension Plan Investment Board now owns 39,300 shares of the basic materials company’s stock valued at $1,008,000 after purchasing an additional 15,200 shares in the last quarter. Stevens Capital Management LP acquired a new position in United States Steel in the third quarter valued at about $275,000. Finally, Prudential Financial Inc. raised its stake in United States Steel by 524.7% in the third quarter. Prudential Financial Inc. now owns 668,811 shares of the basic materials company’s stock valued at $17,161,000 after purchasing an additional 561,758 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: “United States Steel (X) Shares Gap Down to $40.24” was first published by Markets Daily and is owned by of Markets Daily. If you are accessing this news story on another site, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this news story can be viewed at https://www.themarketsdaily.com/2018/03/14/united-states-steel-x-shares-gap-down-to-40-24.html.
United States Steel Company Profile
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).
Receive News & Ratings for United States Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United States Steel and related companies with MarketBeat.com's FREE daily email newsletter.