5 Best Materials Stocks To Buy in 2024

4. United States Steel Corp. (NYSE:X)

Number of Hedge Fund Investors: 63

United States Steel Corp. (NYSE:X) is currently in the limelight after Nippon Steel reached a deal with a company to acquire it for $15 billion. However, the deal is expected to face challenges and opposition in the US. Nonetheless, United States Steel Corp. (NYSE:X) is a popular stock among the hedge funds tracked by Insider Monkey. A total of 63 funds reported owning stakes in United States Steel Corp. (NYSE:X) as of the end of the last quarter of 2023.

A Financial Times report recently said that some US senators are concerned about Nippon’s ties to China and have asked President Biden to look into the matter.