Traders Purchase Large Volume of United States Steel Corporation Put Options (X)

United States Steel Corporation (NYSE:X) was the target of some unusual options trading activity on Wednesday. Investors acquired 51,977 put options on the stock. This is an increase of approximately 194% compared to the typical volume of 17,668 put options.

In other United States Steel Corporation news, Director Paul Anthony Mascarenas acquired 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were bought at an average price of $19.31 per share, with a total value of $28,965.00. Following the completion of the acquisition, the director now owns 12,377 shares in the company, valued at approximately $238,999.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Sutherland acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was acquired at an average cost of $19.96 per share, for a total transaction of $199,600.00. Following the acquisition, the director now owns 98,919 shares of the company’s stock, valued at approximately $1,974,423.24. The disclosure for this purchase can be found here. Insiders have acquired a total of 14,000 shares of company stock valued at $278,415 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its position in 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. Global X Management Co. LLC increased its position in United States Steel Corporation by 221.0% in the second quarter. Global X Management Co. LLC now owns 5,473 shares of the basic materials company’s stock valued at $121,000 after buying an additional 3,768 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in United States Steel Corporation by 10.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,975 shares of the basic materials company’s stock valued at $154,000 after buying an additional 674 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in United States Steel Corporation during the first quarter valued at $209,000. Finally, Acrospire Investment Management LLC increased its position in 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. 69.08% of the stock is owned by hedge funds and other institutional investors.

Shares of United States Steel Corporation (X) traded down 0.08% during mid-day trading on Tuesday, hitting $24.17. 14,079,336 shares of the stock were exchanged. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 152.97 and a beta of 2.88. United States Steel Corporation has a 12 month low of $15.72 and a 12 month high of $41.83. The company has a 50-day moving average price of $22.56 and a 200-day moving average price of $28.28.

United States Steel Corporation (NYSE:X) last issued its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.66. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.98 billion. United States Steel Corporation had a return on equity of 6.50% and a net margin of 0.24%. The company’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period last year, the company earned ($0.32) EPS. Equities analysts expect that United States Steel Corporation will post $1.75 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 9th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Monday, August 7th. United States Steel Corporation’s payout ratio is 125.00%.

A number of research firms recently issued reports on X. Barclays PLC set a $25.00 price objective on shares of United States Steel Corporation and gave the stock an “equal weight” rating in a report on Thursday, August 3rd. Argus raised their price objective on shares of United States Steel Corporation to $1.48 and gave the stock a “buy” rating in a report on Friday, July 28th. Citigroup Inc. downgraded shares of United States Steel Corporation from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $26.00 to $20.00 in a report on Friday, July 28th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $51.00 price target on shares of United States Steel Corporation in a report on Thursday, July 27th. Finally, Longbow Research downgraded shares of United States Steel Corporation from a “buy” rating to a “neutral” rating in a report on Thursday, July 27th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $27.36.

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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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