An issue of United States Steel Corp. (NYSE:X) bonds rose 1.3% against their face value during trading on Tuesday following insider selling activity. The high-yield issue of debt has a 6.875% coupon and is set to mature on April 1, 2021. The bonds in the issue are now trading at $101.75. Price changes in a company’s bonds in credit markets often predict parallel changes in its stock price. Specifically, VP David J. Rintoul sold 18,330 shares of United States Steel Corp. stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $28.19, for a total value of $516,722.70. Following the completion of the sale, the vice president now directly owns 61,957 shares in the company, valued at $1,746,567.83. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP David B. Burritt sold 51,791 shares of United States Steel Corp. stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $32.56, for a total value of $1,686,314.96. Following the completion of the sale, the vice president now owns 135,672 shares of the company’s stock, valued at $4,417,480.32. The disclosure for this sale can be found here. 1.31% of the stock is owned by corporate insiders.

Several research firms have recently commented on X. TheStreet upgraded United States Steel Corp. from a “sell” rating to a “hold” rating in a report on Friday. Argus downgraded United States Steel Corp. from a “buy” rating to a “hold” rating and decreased their price objective for the company from $33.78 to $6.15 in a report on Tuesday. Vetr cut United States Steel Corp. from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research report on Monday, November 21st. Rosenblatt Securities cut United States Steel Corp. from a “buy” rating to a “neutral” rating in a research report on Monday, November 21st. They noted that the move was a valuation call. Finally, Zacks Investment Research raised United States Steel Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, November 15th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company’s stock. United States Steel Corp. has an average rating of “Hold” and a consensus price target of $20.74.

The firm’s market cap is $5.37 billion. The firm has a 50-day moving average price of $22.55 and a 200 day moving average price of $19.81.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Friday, November 11th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, November 8th. United States Steel Corp.’s dividend payout ratio is presently -2.19%.

A number of hedge funds have recently added to or reduced their stakes in X. LMR Partners LLP acquired a new position in United States Steel Corp. during the second quarter worth $927,000. Advisory Services Network LLC raised its position in United States Steel Corp. by 21.5% in the second quarter. Advisory Services Network LLC now owns 28,145 shares of the company’s stock worth $475,000 after buying an additional 4,977 shares during the period. First Dallas Securities Inc. raised its position in United States Steel Corp. by 9.2% in the second quarter. First Dallas Securities Inc. now owns 36,826 shares of the company’s stock worth $621,000 after buying an additional 3,103 shares during the period. Meeder Asset Management Inc. acquired a new position in United States Steel Corp. during the second quarter worth $590,000. Finally, Oakbrook Investments LLC acquired a new position in United States Steel Corp. during the second quarter worth $228,000. 76.89% of the stock is owned by institutional investors and hedge funds.

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United States Steel Corp. Company Profile

United States Steel Corporation (U. S. Steel) 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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