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Get An Even Better Deal On X Than Director Atkinson Did

By Metals Channel Staff, Friday, February 26, 11:31 AM ET
Play Video: One Reason For Insiders to Buy


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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 16, United States Steel Corp.'s Director, Tracy A. Atkinson, invested $25,058.76 into 1,468 shares of X, for a cost per share of $17.07. 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 Friday, bargain hunters could buy shares of United States Steel Corp. (NYSE:X) and achieve a cost basis 3.2% cheaper than Atkinson, with shares changing hands as low as $16.53 per share. United States Steel Corp. shares are currently trading down about 4.2% on the day. The chart below shows the one year performance of X shares, versus its 200 day moving average:

United States Steel Corp. Chart

Looking at the chart above, X's low point in its 52 week range is $4.54 per share, with $24.71 as the 52 week high point — that compares with a last trade of $16.78. By comparison, below is a table showing the prices at which X insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
02/16/2021 Tracy A. Atkinson Director 1,468 $17.07 $25,058.76

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