United States Steel (NYSE:X) Shares Gap Down to $13.29
Shares of United States Steel Co. (NYSE:X) gapped down before the market opened on Tuesday . The stock had previously closed at $13.68, but opened at $13.29. United States Steel shares last traded at $12.96, with a volume of 9,879,683 shares.
A number of brokerages have recently issued reports on X. Goldman Sachs Group lowered shares of United States Steel from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $17.00 to $11.00 in a research report on Tuesday, June 4th. Barclays initiated coverage on shares of United States Steel in a report on Friday, September 6th. They issued an “overweight” rating on the stock. Vertical Group upgraded shares of United States Steel from a “sell” rating to a “buy” rating in a report on Wednesday, June 19th. Deutsche Bank lowered shares of United States Steel from a “hold” rating to a “sell” rating and set a $12.64 price objective on the stock. in a report on Thursday, May 30th. Finally, ValuEngine lowered shares of United States Steel from a “sell” rating to a “strong sell” rating in a report on Monday, August 26th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $18.94.
The company’s 50-day moving average price is $12.14 and its 200-day moving average price is $15.21. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.41 and a quick ratio of 0.74. The company has a market cap of $2.24 billion, a P/E ratio of 2.42, a P/E/G ratio of 2.40 and a beta of 3.02.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Wednesday, August 14th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Tuesday, August 13th. United States Steel’s dividend payout ratio (DPR) is currently 3.73%.
A number of institutional investors have recently added to or reduced their stakes in X. Point72 Asset Management L.P. grew its position in United States Steel by 11,651.5% in the second quarter. Point72 Asset Management L.P. now owns 1,261,286 shares of the basic materials company’s stock valued at $19,310,000 after purchasing an additional 1,250,553 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of United States Steel by 402.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,475,957 shares of the basic materials company’s stock valued at $22,597,000 after acquiring an additional 1,181,957 shares during the period. AQR Capital Management LLC grew its position in shares of United States Steel by 808.3% in the 2nd quarter. AQR Capital Management LLC now owns 961,770 shares of the basic materials company’s stock valued at $14,465,000 after acquiring an additional 855,884 shares during the period. BlackRock Inc. grew its position in shares of United States Steel by 5.4% in the 1st quarter. BlackRock Inc. now owns 16,577,232 shares of the basic materials company’s stock valued at $323,090,000 after acquiring an additional 846,135 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of United States Steel in the 1st quarter valued at about $15,786,000. 60.77% of the stock is owned by institutional investors and hedge funds.
United States Steel Company Profile (NYSE:X)
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: North American Flat-Rolled (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets and tin mill products, as well as all iron ore and coke.
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