Luminus Management buys $111,581,287 stake in United States Steel Corporation (X)

United States Steel Corporation (X) : Luminus Management scooped up 1,643,142 additional shares in United States Steel Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 4,016,605 shares of United States Steel Corporation which is valued at $111,581,287.United States Steel Corporation makes up approximately 3.45% of Luminus Management’s portfolio.

Other Hedge Funds, Including , Parallax Volatility Advisers sold out all of its stake in X during the most recent quarter. The investment firm sold 27,027 shares of X which is valued $750,810.Advisor Group reduced its stake in X by selling 4,122 shares or 56.92% in the most recent quarter. The Hedge Fund company now holds 3,120 shares of X which is valued at $76,627. Dekabank Deutsche Girozentrale sold out all of its stake in X during the most recent quarter. The investment firm sold 8,337 shares of X which is valued $171,992.Arizona State Retirement System boosted its stake in X in the latest quarter, The investment management firm added 8,500 additional shares and now holds a total of 65,755 shares of United States Steel Corporation which is valued at $1,171,754. United States Steel Corporation makes up approx 0.02% of Arizona State Retirement System’s portfolio. Alpha Windward added X to its portfolio by purchasing 21,300 company shares during the most recent quarter which is valued at $365,721. United States Steel Corporation makes up approx 0.26% of Alpha Windward’s portfolio.

United States Steel Corporation closed down -0.6 points or -2.06% at $28.57 with 1,61,04,329 shares getting traded on Monday. Post opening the session at $28.92, the shares hit an intraday low of $28.31 and an intraday high of $29.42 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, United States Steel Corporation reported $0.40 EPS for the quarter, missing the analyst consensus estimate by $ -0.44 based on the information available during the earnings call on Nov 1, 2016. Analyst had a consensus of $0.84. The company had revenue of $2686.00 million for the quarter, compared to analysts expectations of $2790.76 million. The company’s revenue was down -5.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.70 EPS.

Many Wall Street Analysts have commented on United States Steel Corporation. United States Steel Corporation was Downgraded by Rosenblatt to ” Neutral” on Nov 21, 2016. United States Steel Corporation was Upgraded by Morgan Stanley to ” Overweight” on Nov 14, 2016. United States Steel Corporation was Upgraded by Jefferies to ” Buy” on Nov 9, 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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