United States Steel (NYSE:X) Stock Price Down 5.2% After Insider Selling

United States Steel Co. (NYSE:X) traded down 5.2% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $21.96 and last traded at $22.38. 631,940 shares changed hands during trading, a decline of 97% from the average session volume of 21,494,896 shares. The stock had previously closed at $23.62.

Specifically, CFO Christine S. Breves sold 24,282 shares of the business’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $25.54, for a total transaction of $620,162.28. Following the sale, the chief financial officer now owns 203,972 shares of the company’s stock, valued at $5,209,444.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tracy A. Atkinson acquired 1,468 shares of the company’s stock in a transaction that occurred on Tuesday, February 16th. The shares were acquired at an average cost of $17.07 per share, for a total transaction of $25,058.76. Following the purchase, the director now directly owns 17,177 shares of the company’s stock, valued at $293,211.39. The disclosure for this purchase can be found here. Insiders have sold 88,430 shares of company stock worth $2,109,816 in the last quarter. 1.70% of the stock is owned by corporate insiders.

X has been the topic of several analyst reports. Morgan Stanley upped their target price on shares of United States Steel from $18.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 18th. BMO Capital Markets boosted their price objective on shares of United States Steel from $21.00 to $25.00 and gave the company a “market perform” rating in a report on Monday, March 15th. Deutsche Bank Aktiengesellschaft raised shares of United States Steel from a “sell” rating to a “buy” rating in a report on Friday, January 8th. TheStreet raised shares of United States Steel from a “d” rating to a “c-” rating in a report on Friday, January 29th. Finally, Zacks Investment Research raised shares of United States Steel from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Monday, March 15th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. United States Steel currently has an average rating of “Hold” and a consensus price target of $15.00.

The company has a quick ratio of 1.54, a current ratio of 2.30 and a debt-to-equity ratio of 1.51. The stock’s 50 day moving average price is $20.92 and its 200-day moving average price is $15.76. The stock has a market capitalization of $6.02 billion, a PE ratio of -2.20 and a beta of 2.39.

United States Steel (NYSE:X) last issued its earnings results on Wednesday, January 27th. The basic materials company reported ($0.27) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.68) by $0.41. United States Steel had a negative net margin of 16.25% and a negative return on equity of 18.78%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the business earned ($0.64) earnings per share. United States Steel’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, analysts forecast that United States Steel Co. will post -5.57 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 9th. Investors of record on Monday, February 8th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, February 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%. United States Steel’s dividend payout ratio is 44.44%.

Several large investors have recently modified their holdings of the stock. Pacer Advisors Inc. lifted its position in United States Steel by 13.7% during the first quarter. Pacer Advisors Inc. now owns 27,984 shares of the basic materials company’s stock valued at $732,000 after purchasing an additional 3,375 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in United States Steel by 35.0% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 35,115 shares of the basic materials company’s stock valued at $589,000 after purchasing an additional 9,100 shares during the last quarter. Norges Bank bought a new position in United States Steel during the fourth quarter valued at $43,987,000. UBS Asset Management Americas Inc. lifted its position in United States Steel by 39.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 342,041 shares of the basic materials company’s stock valued at $5,736,000 after purchasing an additional 97,056 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in United States Steel during the fourth quarter valued at $184,000. Hedge funds and other institutional investors own 60.36% of the company’s stock.

About United States Steel (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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