Amerigo Asset Management Exits Position in United States Steel Corporation (X)

United States Steel Corporation (X) : Amerigo Asset Management has sold out all of its stake in United States Steel Corporation during the most recent quarter, according to the disclosure filed by the company on Oct 13, 2016 with the SEC. The investment management company has sold out 3,801,055 shares of United States Steel Corporation which is valued at $62,527,355.

Other Hedge Funds, Including , Creative Planning reduced its stake in X by selling 309,008 shares or 59.87% in the most recent quarter. The Hedge Fund company now holds 207,092 shares of X which is valued at $3,619,968. United States Steel Corporation makes up approx 0.02% of Creative Planning’s portfolio.Gradient Investments boosted its stake in X in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 204 shares of United States Steel Corporation which is valued at $3,662. Simplex Trading added X to its portfolio by purchasing 166,400 company shares during the most recent quarter which is valued at $2,941,952. United States Steel Corporation makes up approx 0.38% of Simplex Trading’s portfolio.

United States Steel Corporation closed down -0.47 points or -2.62% at $17.48 with 1,24,75,651 shares getting traded on Tuesday. Post opening the session at $17.57, the shares hit an intraday low of $17.23 and an intraday high of $17.705 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, United States Steel Corporation reported $-2.15 EPS for the quarter, missing the analyst consensus estimate by $ -0.89 based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus of $-1.26. The company had revenue of $2341.00 million for the quarter, compared to analysts expectations of $2458.97 million. The company’s revenue was down -28.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.07 EPS.

Many Wall Street Analysts have commented on United States Steel Corporation. United States Steel Corporation was Upgraded by KeyBanc Capital Mkts to ” Sector Weight” on Sep 19, 2016. Citigroup Initiated United States Steel Corporation on Aug 22, 2016 to “Buy”, Price Target of the shares are set at $27.United States Steel Corporation was Downgraded by KeyBanc Capital Mkts to ” Underweight” on Aug 19, 2016.

United States Steel Corporation (U. S. Steel) is a 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). The results of the Company’s railroad and real estate businesses are combined under the Other Businesses category. The Flat-rolled Products segment includes the operating results of all facilities within U. S. Steel’s integrated steel plants in the United States except the Fairfield pipe facility. The USSE segment includes the operating results of U. S. Steel Kosice (USSK) the Company’s steel plant and coke production facilities in Slovakia. The Tubular segment includes the operating results of U. S. Steel’s tubular production facilities primarily in the United States and equity investees in the United States and Brazil.

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