United States Steel Corporation (X) Short Interest Update

United States Steel Corporation (NYSE:X) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 20,575,772 shares, a decrease of 31.1% from the October 13th total of 29,854,547 shares. Based on an average trading volume of 11,872,392 shares, the short-interest ratio is currently 1.7 days. Currently, 11.9% of the shares of the company are short sold.

Several research analysts have weighed in on the company. Barclays PLC reiterated an “equal weight” rating and set a $25.00 price objective (up previously from $24.00) on shares of United States Steel Corporation in a research report on Wednesday, August 9th. ValuEngine cut United States Steel Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Longbow Research cut United States Steel Corporation from a “buy” rating to a “neutral” rating in a research report on Thursday, July 27th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $51.00 price objective on shares of United States Steel Corporation in a research report on Thursday, July 27th. Finally, Cowen and Company increased their price objective on United States Steel Corporation from $21.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $29.34.

In other United States Steel Corporation news, Director Eugene Sperling purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average price of $25.16 per share, for a total transaction of $25,160.00. Following the purchase, the director now owns 3,009 shares in the company, valued at $75,706.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Murry Gerber purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was acquired at an average price of $26.89 per share, for a total transaction of $107,560.00. Following the purchase, the director now owns 168,457 shares in the company, valued at approximately $4,529,808.73. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 64,597 shares of company stock worth $1,764,452. 1.00% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of United States Steel Corporation by 0.4% during the second quarter. BlackRock Inc. now owns 14,343,698 shares of the basic materials company’s stock valued at $317,570,000 after purchasing an additional 63,943 shares in the last quarter. Amerigo Asset Management acquired a new stake in shares of United States Steel Corporation during the third quarter valued at about $158,558,000. State Street Corp boosted its stake in shares of United States Steel Corporation by 6.2% during the second quarter. State Street Corp now owns 5,889,434 shares of the basic materials company’s stock valued at $130,394,000 after purchasing an additional 341,591 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of United States Steel Corporation by 7.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,245,149 shares of the basic materials company’s stock valued at $71,851,000 after purchasing an additional 236,714 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of United States Steel Corporation by 2.2% during the third quarter. Bank of New York Mellon Corp now owns 1,970,333 shares of the basic materials company’s stock valued at $50,558,000 after purchasing an additional 41,931 shares in the last quarter. 66.28% of the stock is currently owned by hedge funds and other institutional investors.

Shares of United States Steel Corporation (NYSE:X) opened at $26.67 on Wednesday. The firm has a market capitalization of $4,660.00, a PE ratio of 19.21 and a beta of 2.96. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.89 and a quick ratio of 1.23. United States Steel Corporation has a 12 month low of $18.55 and a 12 month high of $41.83.

United States Steel Corporation (NYSE:X) last released its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.25. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.07 billion. United States Steel Corporation had a return on equity of 10.27% and a net margin of 1.05%. United States Steel Corporation’s revenue was up 20.9% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share. equities analysts predict that United States Steel Corporation will post 1.8 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Thursday, November 9th. United States Steel Corporation’s payout ratio is 29.41%.

COPYRIGHT VIOLATION NOTICE: “United States Steel Corporation (X) Short Interest Update” was originally posted by Markets Daily and is the property of of Markets Daily. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark laws. The correct version of this news story can be viewed at https://www.themarketsdaily.com/2017/11/15/united-states-steel-corporation-x-short-interest-update.html.

About United States Steel Corporation

United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).

Receive News & Ratings for United States Steel Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United States Steel Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply