United States Steel Corporation (X): 2 Crucial Indicators To Watch

United States Steel Corporation (NYSE:X) has seen a decrease in activity from the world’s largest hedge funds in recent months.

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Now, we’re going to take a glance at the key action regarding United States Steel Corporation (NYSE:X).

What have hedge funds been doing with United States Steel Corporation (NYSE:X)?

At the end of the fourth quarter, a total of 18 of the hedge funds we track held long positions in this stock, a change of 0% from the previous quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were boosting their stakes meaningfully.

According to our comprehensive database, D. E. Shaw’s D E Shaw had the largest call position in United States Steel Corporation (NYSE:X), worth close to $54.6 million, comprising 0.1% of its total 13F portfolio. Sitting at the No. 2 spot is Jabre Capital Partners, managed by Philippe Jabre, which held a $48.6 million call position; the fund has 4.1% of its 13F portfolio invested in the stock. Some other hedgies that are bullish include Jim Simons’s Renaissance Technologies, D. E. Shaw’s D E Shaw and Cliff Asness’s AQR Capital Management.

Judging by the fact that United States Steel Corporation (NYSE:X) has witnessed a declination in interest from the entirety of the hedge funds we track, it’s safe to say that there was a specific group of funds that elected to cut their full holdings at the end of the year. At the top of the heap, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital dropped the largest investment of all the hedgies we track, totaling about $7.6 million in stock., and Dmitry Balyasny of Balyasny Asset Management was right behind this move, as the fund dropped about $5.7 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Insider trading activity in United States Steel Corporation (NYSE:X)

Insider trading activity, especially when it’s bullish, is particularly usable when the company in question has seen transactions within the past half-year. Over the latest half-year time period, United States Steel Corporation (NYSE:X) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to United States Steel Corporation (NYSE:X). These stocks are Ternium S.A. (ADR) (NYSE:TX), Harsco Corporation (NYSE:HSC), Steel Dynamics, Inc. (NASDAQ:STLD), Grupo Simec S.A.B. de C.V. (ADR) (NYSEAMEX:SIM), and Mechel OAO (ADR) (NYSE:MTL). This group of stocks belong to the steel & iron industry and their market caps are similar to X’s market cap.