United States Steel Corporation (NYSE:X) Short Interest Update

United States Steel Corporation (NYSE:X) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 32,619,217 shares, an increase of 18.6% from the June 15th total of 27,512,810 shares. Based on an average daily trading volume, of 18,708,793 shares, the short-interest ratio is currently 1.7 days. Approximately 18.9% of the shares of the company are sold short.

In related news, Director Stephen J. Girsky bought 2,500 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were bought at an average cost of $19.94 per share, for a total transaction of $49,850.00. Following the transaction, the director now owns 21,872 shares of the company’s stock, valued at $436,127.68. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paul Anthony Mascarenas bought 1,500 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were bought at an average price of $19.31 per share, for a total transaction of $28,965.00. Following the completion of the transaction, the director now directly owns 12,377 shares in the company, valued at approximately $238,999.87. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 14,000 shares of company stock worth $278,415. 1.00% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in X. Northwestern Mutual Wealth Management Co. increased its stake in shares of United States Steel Corporation by 1,971.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,315 shares of the basic materials company’s stock valued at $112,000 after buying an additional 3,155 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of United States Steel Corporation during the first quarter valued at about $209,000. Acrospire Investment Management LLC increased its stake in shares of United States Steel Corporation by 241.1% in the first quarter. Acrospire Investment Management LLC now owns 6,212 shares of the basic materials company’s stock valued at $210,000 after buying an additional 4,391 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of United States Steel Corporation by 21.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,301 shares of the basic materials company’s stock valued at $213,000 after buying an additional 1,112 shares in the last quarter. Finally, FNY Partners Fund LP increased its stake in shares of United States Steel Corporation by 272.2% in the first quarter. FNY Partners Fund LP now owns 6,700 shares of the basic materials company’s stock valued at $226,000 after buying an additional 4,900 shares in the last quarter. 66.83% of the stock is owned by hedge funds and other institutional investors.

United States Steel Corporation (NYSE:X) opened at 23.35 on Tuesday. United States Steel Corporation has a 1-year low of $15.72 and a 1-year high of $41.83. The firm’s market cap is $4.08 billion. The stock’s 50 day moving average is $20.78 and its 200-day moving average is $30.22.

United States Steel Corporation (NYSE:X) last announced its quarterly earnings data on Tuesday, April 25th. The basic materials company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by $1.18. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.91 billion. United States Steel Corporation had a negative return on equity of 3.48% and a negative net margin of 2.63%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the company posted ($2.15) earnings per share. Analysts forecast that United States Steel Corporation will post $1.02 EPS for the current year.

Several equities research analysts have commented on X shares. Vetr upgraded shares of United States Steel Corporation from a “buy” rating to a “strong-buy” rating and set a $38.76 target price on the stock in a research report on Monday, March 27th. J P Morgan Chase & Co restated an “overweight” rating and set a $46.00 target price (up from $39.00) on shares of United States Steel Corporation in a research report on Wednesday, March 22nd. Credit Suisse Group upgraded shares of United States Steel Corporation from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $13.68 to $30.00 in a research report on Wednesday, May 24th. Deutsche Bank AG lifted their price target on United States Steel Corporation from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, March 21st. Finally, Standpoint Research raised United States Steel Corporation from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Wednesday, June 7th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $28.67.

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United States Steel Corporation Company Profile

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).

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