The Citigroup Inc. Downgrades United States Steel Corp. (X) to Neutral

The Citigroup Inc. Downgrades United States Steel Corp. (X) to Neutral

United States Steel Corp. (NYSE:X) was downgraded by stock analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a report released on Thursday. They presently have a $37.00 target price on the stock. Citigroup Inc.’s target price points to a potential upside of 10.84% from the company’s current price.

X has been the topic of a number of other reports. Vetr upgraded United States Steel Corp. from a “hold” rating to a “buy” rating and set a $34.75 target price on the stock in a research note on Monday, January 2nd. Credit Suisse Group AG set a $29.00 target price on United States Steel Corp. and gave the company a “buy” rating in a research note on Thursday, September 22nd. Jefferies Group upgraded United States Steel Corp. from a “hold” rating to a “buy” rating and raised their target price for the company from $17.50 to $26.00 in a research note on Wednesday, November 9th. Argus cut United States Steel Corp. from a “buy” rating to a “hold” rating and cut their target price for the company from $33.78 to $6.15 in a research note on Tuesday, November 29th. Finally, Macquarie reissued an “underperform” rating on shares of United States Steel Corp. in a report on Wednesday, November 30th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $22.97.

Shares of United States Steel Corp. (NYSE:X) opened at 33.38 on Thursday. The stock’s market capitalization is $5.76 billion. The company has a 50 day moving average of $34.83 and a 200 day moving average of $24.22. United States Steel Corp. has a 52-week low of $6.15 and a 52-week high of $39.14.

In other news, VP Sara A. Greenstein sold 2,128 shares of United States Steel Corp. stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $35.34, for a total transaction of $75,203.52. Following the completion of the sale, the vice president now directly owns 46,469 shares in the company, valued at approximately $1,642,214.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mario Longhi Filho sold 54,500 shares of United States Steel Corp. stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $35.00, for a total value of $1,907,500.00. Following the sale, the chief executive officer now owns 370,736 shares of the company’s stock, valued at $12,975,760. The disclosure for this sale can be found here. Insiders have sold a total of 421,006 shares of company stock valued at $13,695,538 over the last 90 days. Corporate insiders own 1.31% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of United States Steel Corp. by 4.4% in the second quarter. Vanguard Group Inc. now owns 10,587,493 shares of the company’s stock worth $178,505,000 after buying an additional 442,573 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of United States Steel Corp. by 19.8% in the third quarter. BlackRock Fund Advisors now owns 6,193,405 shares of the company’s stock worth $116,808,000 after buying an additional 1,025,132 shares during the last quarter. State Street Corp increased its position in shares of United States Steel Corp. by 6.2% in the second quarter. State Street Corp now owns 5,783,221 shares of the company’s stock worth $97,512,000 after buying an additional 335,824 shares during the last quarter. Anchor Bolt Capital LP increased its position in shares of United States Steel Corp. by 473.2% in the second quarter. Anchor Bolt Capital LP now owns 4,694,947 shares of the company’s stock worth $79,157,000 after buying an additional 3,875,834 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of United States Steel Corp. by 74.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,925,920 shares of the company’s stock worth $66,183,000 after buying an additional 1,676,588 shares during the last quarter. Institutional investors and hedge funds own 78.92% of the company’s stock.

About United States Steel Corp.

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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