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

Shares of United States Steel Co. (NYSE:X - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $42.98, but opened at $44.80. United States Steel shares last traded at $43.70, with a volume of 3,025,079 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Jefferies Financial Group dropped 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 research report on Monday, January 6th. Morgan Stanley increased their target price on shares of United States Steel from $39.00 to $43.00 and gave the company an "equal weight" rating in a research note on Friday, March 7th. Bank of America began coverage on shares of United States Steel in a research report on Monday, January 6th. They issued a "neutral" rating and a $35.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on United States Steel from $40.00 to $43.00 and gave the company an "overweight" rating in a research report on Tuesday, March 11th. Finally, BMO Capital Markets restated a "market perform" rating and issued a $45.00 target price on shares of United States Steel in a report on Monday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $41.32.

United States Steel Stock Performance

The firm's 50 day simple moving average is $38.64 and its 200-day simple moving average is $37.26. The company has a market capitalization of $9.64 billion, a price-to-earnings ratio of 28.55, 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 quick ratio of 0.91 and a current ratio of 1.55.

United States Steel (NYSE:X - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.38). United States Steel had a return on equity of 4.27% and a net margin of 2.46%. 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 declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, February 10th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, February 10th. United States Steel's dividend payout ratio is currently 13.42%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in X. Bessemer Group Inc. grew its holdings in shares of United States Steel by 64.0% during the 4th quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 277 shares in the last quarter. Ameliora Wealth Management Ltd. acquired a new position in United States Steel in the 4th quarter worth about $27,000. ORG Wealth Partners LLC purchased a new stake in shares of United States Steel during the 4th quarter worth about $30,000. Parkworth Wealth Management Inc. purchased a new stake in shares of United States Steel during the 4th quarter worth about $31,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of United States Steel in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 81.92% 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. 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.