5 Best Stocks Under $30 According to DE Shaw

3. United States Steel Corporation (NYSE:X)

D.E. Shaw’s Stake Value: $209 million

Percentage of D.E. Shaw’s 13F Portfolio: 0.19%

Number of Hedge Fund Holders: 37

Stock Price as of May 25, 2022: $24.01

United States Steel Corporation (NYSE:X) is, as the name suggests, an American steel producer. The firm provides a large variety of steel and steel based products such as tin, coke, iron ore, steel sheets, strip mill plates, slabs, and pipes.

Dr. Shaw’s investment firm owned 5.5 million United States Steel Corporation (NYSE:X) shares by the close of this year’s January quarter. This enabled it to hold a $209 million stake in the company. Similarly, by the end of Q1 2022, 37 hedge funds in Insider Monkey’s 912 fund survey had invested in the company.

United States Steel Corporation (NYSE:X) reported $5 billion in revenue and $3.05 in non-GAAP EPS for its fiscal Q1, beating analyst EPS estimates but missing them for revenue. JPMorgan raised the company’s price target to $30 from $33 in March 2022, as it used upgraded steel price forecasts to justify the decision.

United States Steel Corporation (NYSE:X)’s largest investor is Eric W. Mandelblatt’s Soroban Capital Partners which owns 11 million shares that are worth $440 million.