United States Steel Co. (NYSE:X) VP James E. Bruno sold 12,000 shares of the business’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $25.75, for a total value of $309,000.00. Following the transaction, the vice president now directly owns 54,137 shares of the company’s stock, valued at $1,394,027.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shares of NYSE X traded down $0.34 during trading hours on Friday, reaching $25.96. The stock had a trading volume of 1,113,284 shares, compared to its average volume of 6,971,862. The company has a quick ratio of 0.99, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. The stock has a market cap of $4.66 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.61 and a beta of 2.92. United States Steel Co. has a fifty-two week low of $24.84 and a fifty-two week high of $47.64.
United States Steel (NYSE:X) last posted its quarterly earnings data on Friday, November 2nd. The basic materials company reported $1.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.06. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.67 billion. United States Steel had a return on equity of 21.69% and a net margin of 5.01%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 EPS. Sell-side analysts anticipate that United States Steel Co. will post 5.41 earnings per share for the current year.
United States Steel announced that its board has approved a stock buyback plan on Thursday, November 1st that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the basic materials company to purchase up to 6.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
Several research analysts have recently issued reports on X shares. TheStreet raised United States Steel from a “c” rating to a “b” rating in a research report on Thursday, August 2nd. Morgan Stanley cut United States Steel from an “overweight” rating to an “underweight” rating and lowered their price objective for the stock from $44.00 to $30.00 in a research report on Monday, August 27th. Credit Suisse Group lowered their price objective on United States Steel from $55.00 to $48.00 in a research report on Thursday, August 23rd. ValuEngine cut United States Steel from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Finally, Deutsche Bank cut United States Steel from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $47.00 to $35.00 in a research report on Tuesday, October 2nd. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $39.72.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Advisors Preferred LLC raised its stake in shares of United States Steel by 131.7% during the 2nd quarter. Advisors Preferred LLC now owns 3,074 shares of the basic materials company’s stock worth $107,000 after buying an additional 1,747 shares in the last quarter. Exane Derivatives raised its stake in shares of United States Steel by 364,000.0% during the 3rd quarter. Exane Derivatives now owns 3,641 shares of the basic materials company’s stock worth $112,000 after buying an additional 3,640 shares in the last quarter. Trustcore Financial Services LLC purchased a new position in shares of United States Steel during the 3rd quarter worth approximately $128,000. Truvestments Capital LLC purchased a new position in shares of United States Steel during the 3rd quarter worth approximately $143,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of United States Steel during the 3rd quarter worth approximately $156,000. 68.67% of the stock is owned by hedge funds and other institutional investors.
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About United States Steel
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.
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