Is United States Steel Corporation (X) A Good Stock To Buy?

Seeing as United States Steel Corporation (NYSE:X) has witnessed a declination in interest from the entirety of the hedge funds and institutional investors we track, logic holds that there exists a select few fund managers who were dropping their full holdings last quarter. At the top of the heap, David Harding’s Winton Capital Management said goodbye to the largest stake of the “upper crust” of funds watched by Insider Monkey, comprising close to $13.7 million in stock, and Steve Cohen’s Point72 Asset Management was right behind this move, as the fund dumped about $10.3 million worth of shares. These transactions are interesting, as aggregate hedge fund interest dropped by 4 funds last quarter.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as United States Steel Corporation (NYSE:X) but similarly valued. These stocks are Nationstar Mortgage Holdings Inc (NYSE:NSM), American Axle & Manufact. Holdings, Inc. (NYSE:AXL), Paylocity Holding Corp (NASDAQ:PCTY), and Ship Finance International Limited (NYSE:SFL). This group of stocks’ market valuations match X’s market valuation.

As you can see, these stocks had an average of 19 hedge funds with bullish positions and the average amount invested in these stocks was $424 million. That figure was $97 million in United States Steel Corporation (NYSE:X)‘s case. Nationstar Mortgage Holdings Inc (NYSE:NSM) is the most popular stock in this table. On the other hand, Ship Finance International Limited (NYSE:SFL) is the least popular one with only 16 bullish hedge fund positions. Compared to these stocks, United States Steel Corporation (NYSE:X) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.