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| Snag This Bargain Metals Stock Even Cheaper Than Director Ayers DidBy Metals Channel Staff, Monday, March 13, 10:33 AM ET
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 March 3, United States Steel Corp.'s Director, Andrea J. Ayers, invested $31,454.10 into 1,000 shares of X, for a cost per share of $31.45. 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 Monday, bargain hunters could buy shares of United States Steel Corp. (NYSE:X) and achieve a cost basis 17.1% cheaper than Ayers, with shares changing hands as low as $26.09 per share. United States Steel Corp. shares are currently trading down about 3.9% 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 $16.41 per share, with $39.2499 as the 52 week high point — that compares with a last trade of $26.33. By comparison, below is a table showing the prices at which X insider buying was recorded over the last six months:
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