NY State Common Retirement Fund Reduces Stake in United States Steel Co. by 10.3% in Q1
August 8, 2023
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UNITED ($NYSE:X): The company produces steel for the automotive, construction, energy, and industrial sectors. U.S. Steel has been facing a number of challenges due to increasing competition from foreign steel manufacturers and rising operating costs. The company has been focusing on cost-cutting measures to remain competitive and improve its financial situation.
Additionally, the company has been investing in advanced technologies to increase efficiency and reduce costs. The NYSCRF’s decision to reduce its stake in U.S. Steel comes at a time when the company is undergoing a significant transformation in order to remain competitive in a difficult market environment. Despite the challenges, U.S. Steel has managed to remain profitable in recent years and is betting on innovative technologies to build a successful future.
Analysis
At GoodWhale, we recently conducted an analysis of UNITED STATES STEEL and their wellbeing. Through our Star Chart, we have classified UNITED STATES STEEL as a ‘rhino’, meaning the company has achieved moderate revenue or earnings growth. This type of company would be of interest to investors who prioritize dividend growth, as UNITED STATES STEEL has a high score in this area. Additionally, the company has demonstrated medium growth in assets and profitability. We are additionally pleased with UNITED STATES STEEL’s health score of 8/10, which takes into account their cashflows and debt. This score suggests that the company is capable of sustaining future operations even in times of crisis. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for X. More…
| Total Revenues | Net Income | Net Margin |
| 19.02k | 1.34k | 7.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for X. More…
| Operations | Investing | Financing |
| 2.72k | -2.43k | -294 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for X. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 20.31k | 9.49k | 47.36 |
Key Ratios Snapshot
Some of the financial key ratios for X are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 21.0% | 64.7% | 9.8% |
| FCF Margin | ROE | ROA |
| 1.4% | 11.0% | 5.7% |
Peers
United States Steel Corp, Cleveland-Cliffs Inc, Algoma Steel Group Inc, and Ternium SA are all steel companies that compete for market share. While U.S. Steel is the largest of the four, the other three are not far behind in terms of size and operations. All four companies have a long history in the steel industry and are well-positioned to compete for business in the coming years.
– Cleveland-Cliffs Inc ($NYSE:CLF)
Cleveland-Cliffs Inc is an American mining and natural resources company. The company is the largest producer of iron ore pellets in North America, and a major supplier of direct-reduced iron (DRI) globally. The company also produces other iron-related products, such as metallurgical coal and ferroalloys. It has operations in the United States, Canada, Brazil, and Australia.
Cleveland-Cliffs Inc has a market cap of 8.45B as of 2022. The company’s return on equity is 46.25%. Cleveland-Cliffs Inc is the largest producer of iron ore pellets in North America and a major supplier of direct-reduced iron globally. The company also produces other iron-related products, such as metallurgical coal and ferroalloys.
– Algoma Steel Group Inc ($TSX:ASTL)
Algoma Steel Group Inc is a Canadian steel company located in Sault Ste. Marie, Ontario. The company has a market cap of 1B as of 2022 and a return on equity of 57.58%. The company produces steel products for the construction, energy, manufacturing, and transportation industries.
– Ternium SA ($NYSE:TX)
Ternium SA is a leading steel producer in Latin America with operations in Mexico, Argentina, Chile, Colombia, Guatemala and the United States. The company has a market cap of 5.66B as of 2022 and a Return on Equity of 30.03%. Ternium is the largest integrated steel producer in Latin America and the third largest in the world, with a production capacity of approximately 21 million tons of crude steel per year. The company produces a wide range of steel products, including flat and long products, coated products, and specialty steels. Ternium’s products are used in a variety of industries, such as construction, automotive, appliances, packaging, and others.
Summary
United States Steel Co. experienced a drop in investment from the New York State Common Retirement Fund in the first quarter, with a 10.3% decrease in stake. Analysts suggest that this decreased investment indicates a lack of confidence in the company and its stocks. Investors should remain cautious when looking into US Steel, as any major changes in the stock price could cause significant losses. Additionally, investors should make sure to carefully research the company’s financials and current news before making any decisions.
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