There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on February 15, United States Steel Corp.'s EVP & Chief Financial Officer, Kevin Bradley, invested $227,900.00 into 10,000 shares of X, for a cost per share of $22.79. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Thursday, bargain hunters could buy shares of United States Steel Corp. (Symbol: X) and achieve a cost basis even cheaper than Bradley, with shares changing hands as low as $22.71 per share. United States Steel Corp. shares are currently trading down about 4.1% on the day. The chart below shows the one year performance of X shares, versus its 200 day moving average:
Looking at the chart above, X's low point in its 52 week range is $17.085 per share, with $47.64 as the 52 week high point — that compares with a last trade of $22.77. By comparison, below is a table showing the prices at which X insider buying was recorded over the last six months:
|11/07/2018||Kevin Bradley||EVP & Chief Financial Officer||10,000||$29.52||$295,250.00|
|12/13/2018||Kevin Bradley||EVP & Chief Financial Officer||10,000||$20.32||$203,250.00|
|02/15/2019||Kevin Bradley||EVP & Chief Financial Officer||10,000||$22.79||$227,900.00|
The current annualized dividend paid by United States Steel Corp. is $0.2/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 02/12/2019. Below is a long-term dividend history chart for X, which can be of good help in judging whether the most recent dividend with approx. 0.8% annualized yield is likely to continue.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.