United States Steel (NYSE:X) Shares Gap Up - Here's Why

United States Steel Co. (NYSE:X - Get Free Report) 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.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on X shares. JPMorgan Chase & Co. boosted their price target on shares of United States Steel from $40.00 to $43.00 and gave the stock an "overweight" rating in a report on Tuesday, March 11th. Morgan Stanley boosted their price target on shares of United States Steel from $39.00 to $43.00 and gave the stock an "equal weight" rating in a report on Friday, March 7th. BMO Capital Markets boosted their price target on shares of United States Steel from $40.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday. Bank of America started coverage on shares of United States Steel in a report on Monday, January 6th. They issued a "neutral" rating and a $35.00 price target on the stock. Finally, Jefferies Financial Group cut their price target on shares of United States Steel from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, January 6th. 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $41.32.

United States Steel Stock Performance

The firm has a market capitalization of $9.25 billion, a PE ratio of 27.57, a P/E/G ratio of 1.53 and a beta of 1.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.91. The company's fifty day simple moving average is $37.75 and its 200 day simple moving average is $36.75.

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United States Steel (NYSE:X - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a net margin of 2.46% and a return on equity of 4.27%. As a group, equities research analysts expect that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, February 10th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, February 10th. United States Steel's dividend payout ratio is presently 13.42%.

Institutional Investors Weigh In On United States Steel

Hedge funds and other institutional investors have recently modified their holdings of the stock. Empirical Asset Management LLC purchased a new stake in shares of United States Steel during the fourth quarter valued at approximately $525,000. ARS Investment Partners LLC purchased a new stake in shares of United States Steel during the fourth quarter valued at approximately $15,510,000. Rockefeller Capital Management L.P. boosted its stake in shares of United States Steel by 646.0% during the third quarter. Rockefeller Capital Management L.P. now owns 506,694 shares of the basic materials company's stock valued at $17,902,000 after purchasing an additional 438,771 shares during the period. Geode Capital Management LLC boosted its stake in shares of United States Steel by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,839,684 shares of the basic materials company's stock valued at $135,691,000 after purchasing an additional 37,528 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of United States Steel by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,600,708 shares of the basic materials company's stock valued at $91,883,000 after purchasing an additional 28,293 shares during the period. 81.92% of the stock is currently owned by institutional investors.

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.