United States Steel Co. (X) Short Interest Update

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United States Steel Co. (NYSE:X) saw a significant growth in short interest in March. As of March 29th, there was short interest totalling 17,310,327 shares, a growth of 22.2% from the March 15th total of 14,171,341 shares. Currently, 10.1% of the company’s stock are sold short. Based on an average daily volume of 8,589,756 shares, the short-interest ratio is currently 2.0 days.

In other news, CFO Kevin Bradley purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The shares were bought at an average cost of $22.79 per share, with a total value of $227,900.00. Following the completion of the transaction, the chief financial officer now directly owns 122,830 shares of the company’s stock, valued at $2,799,295.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of X. Baird Financial Group Inc. increased its stake in shares of United States Steel by 58.8% in the third quarter. Baird Financial Group Inc. now owns 15,399 shares of the basic materials company’s stock worth $466,000 after purchasing an additional 5,701 shares in the last quarter. LPL Financial LLC grew its stake in United States Steel by 4.3% during the third quarter. LPL Financial LLC now owns 214,999 shares of the basic materials company’s stock valued at $6,553,000 after acquiring an additional 8,899 shares in the last quarter. BlueMountain Capital Management LLC grew its stake in United States Steel by 779.9% during the third quarter. BlueMountain Capital Management LLC now owns 33,716 shares of the basic materials company’s stock valued at $1,028,000 after acquiring an additional 29,884 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in United States Steel by 4.3% during the third quarter. The Manufacturers Life Insurance Company now owns 293,454 shares of the basic materials company’s stock valued at $8,945,000 after acquiring an additional 12,203 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in United States Steel by 29.1% during the third quarter. Envestnet Asset Management Inc. now owns 22,690 shares of the basic materials company’s stock valued at $692,000 after acquiring an additional 5,115 shares in the last quarter. Hedge funds and other institutional investors own 69.76% of the company’s stock.

A number of research analysts recently weighed in on X shares. BMO Capital Markets reissued a “hold” rating and set a $26.00 price target on shares of United States Steel in a research report on Wednesday, December 19th. Credit Suisse Group lowered shares of United States Steel from an “outperform” rating to a “neutral” rating in a research report on Tuesday, January 8th. Cowen started coverage on shares of United States Steel in a research report on Tuesday, January 8th. They set a “market perform” rating and a $22.00 price target on the stock. Citigroup lowered shares of United States Steel from a “buy” rating to a “neutral” rating and dropped their price target for the company from $40.00 to $23.00 in a research report on Wednesday, January 9th. Finally, TheStreet downgraded shares of United States Steel from a “b-” rating to a “c+” rating in a report on Tuesday, January 8th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. United States Steel has a consensus rating of “Hold” and an average price target of $23.90.

NYSE X opened at $16.71 on Tuesday. United States Steel has a 52-week low of $16.50 and a 52-week high of $39.23. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.51 and a quick ratio of 0.86. The stock has a market cap of $2.90 billion, a P/E ratio of 3.12, a P/E/G ratio of 0.90 and a beta of 2.84.

United States Steel (NYSE:X) last posted its quarterly earnings data on Wednesday, January 30th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.01). United States Steel had a return on equity of 25.39% and a net margin of 7.86%. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the business posted $0.76 EPS. The business’s quarterly revenue was up 17.8% on a year-over-year basis. On average, equities research analysts anticipate that United States Steel will post 2.32 EPS for the current year.

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About United States Steel

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: North American Flat-Rolled (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets and tin mill products, as well as all iron ore and coke.

See Also: Why Net Income is Important to Investors

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