United States Steel (NYSE:X) Shares Gap Up – Time to Buy?

United States Steel Co. (NYSE:X) 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 trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on X. BMO Capital Markets dropped their target price on United States Steel from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Bank of America began 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. Jefferies Financial Group dropped their target price on United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley boosted 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. Finally, JPMorgan Chase & Co. boosted their target price on United States Steel from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.70.

United States Steel Price Performance

The company has a 50-day moving average of $37.09 and a two-hundred day moving average of $36.64. The stock has a market capitalization of $9.17 billion, a PE ratio of 27.37, 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.

United States Steel (NYSE:X) last released its earnings results on Thursday, January 30th. The basic materials company reported ($0.18) earnings per share 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%. Sell-side analysts predict that United States Steel Co. will post 1.43 EPS for the current fiscal year.

United States Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, February 10th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.49%. United States Steel’s dividend payout ratio (DPR) is presently 13.42%.

Institutional Investors Weigh In On United States Steel

A number of hedge funds have recently bought and sold shares of X. Bessemer Group Inc. lifted its holdings in United States Steel by 64.0% during the 4th quarter. Bessemer Group Inc. now owns 710 shares of the basic materials company’s stock worth $25,000 after buying an additional 277 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of United States Steel by 0.7% in the 3rd quarter. D.A. Davidson & CO. now owns 44,450 shares of the basic materials company’s stock worth $1,570,000 after purchasing an additional 301 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of United States Steel by 4.8% in the 3rd quarter. Captrust Financial Advisors now owns 7,012 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 321 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of United States Steel by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 6,880 shares of the basic materials company’s stock worth $234,000 after purchasing an additional 366 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its holdings in shares of United States Steel by 5.0% in the 3rd quarter. Moors & Cabot Inc. now owns 8,005 shares of the basic materials company’s stock worth $283,000 after purchasing an additional 380 shares during the last quarter. 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.