Trade Report: Today, Argus Downgrade United States Steel Corp. (X) to Hold

Today, Argus Downgrade United States Steel Corp. (X) to Hold

United States Steel Corp. (NYSE:X) was downgraded by equities research analysts at Argus from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other equities research analysts also recently issued reports on X. Credit Suisse Group AG set a $29.00 price objective on shares of United States Steel Corp. and gave the stock a “buy” rating in a research note on Saturday, October 8th. Jefferies Group upgraded shares of United States Steel Corp. from an “underperform” rating to a “hold” rating and set a $24.50 price objective on the stock in a research note on Wednesday, August 3rd. Vetr downgraded shares of United States Steel Corp. from a “strong-buy” rating to a “buy” rating and set a $23.28 price objective on the stock. in a research note on Tuesday, November 8th. Citigroup Inc. restated a “buy” rating and issued a $21.00 price objective on shares of United States Steel Corp. in a research note on Friday, November 4th. Finally, Axiom Securities restated a “sell” rating on shares of United States Steel Corp. in a research note on Tuesday, August 30th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $22.00.

Shares of United States Steel Corp. (NYSE:X) opened at 32.17 on Tuesday. The firm’s market cap is $5.55 billion. United States Steel Corp. has a 12-month low of $6.15 and a 12-month high of $33.78. The company has a 50 day moving average of $22.55 and a 200-day moving average of $19.81.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Friday, November 11th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.62%. United States Steel Corp.’s payout ratio is currently -2.19%.

In other United States Steel Corp. news, VP David J. Rintoul sold 18,330 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $28.19, for a total transaction of $516,722.70. Following the completion of the transaction, the vice president now owns 61,957 shares of the company’s stock, valued at approximately $1,746,567.83. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP David B. Burritt sold 51,791 shares of the company’s 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 transaction, the vice president now directly owns 135,672 shares of the company’s stock, valued at approximately $4,417,480.32. The disclosure for this sale can be found here. Insiders own 1.31% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new position in United States Steel Corp. during the third quarter worth $103,000. D.A. Davidson & CO. increased its position in United States Steel Corp. by 65.1% in the third quarter. D.A. Davidson & CO. now owns 5,550 shares of the company’s stock worth $104,000 after buying an additional 2,188 shares during the period. Advisor Group Inc. purchased a new position in United States Steel Corp. during the second quarter worth $120,000. DekaBank Deutsche Girozentrale increased its position in United States Steel Corp. by 61.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 8,337 shares of the company’s stock worth $133,000 after buying an additional 3,160 shares during the period. Finally, LS Investment Advisors LLC increased its position in United States Steel Corp. by 71.9% in the second quarter. LS Investment Advisors LLC now owns 8,787 shares of the company’s stock worth $148,000 after buying an additional 3,675 shares during the period. 76.89% of the stock is owned by hedge funds and other institutional investors.

United States Steel Corp. Company Profile

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