Dallas, Texas 07/18/2013 (Financialstrend) – There has been a gain of 1.79% in the shares of United States Steel Corporation (NYSE:X) and currently trading at $18.19 per share. The stock has presented intraday fluctuations on the range of $18.07 – 18.23 per share, after opening at $18.08 for the day. The company had recorded 52 week low at $15.80 and 52 week high at $26.29 per share.
There are 144.28 million shares outstanding with a market cap of $2.62 billion and an institutional ownership of 65% of the total capital. The trading volume is 0.16 million shares and the average volume is at 7.07 million shares per day.
Like Rockefeller was to Standard Oil, Andrew Carnegie was to United States Steel Corporation (NYSE:X) and company noted for size rather than efficiency. It made as “steel city,” and even built its own town, Gary, Indiana. The combination of a strong management style and ownership of iron ore that took unions head-on made United States Steel Corporation one of the most powerful companies in early 20th century America. US Steel was so influential that was referred by Wall Street investors to as “the Company”. United States Steel Corporation does have some redeeming qualities though. According to its first-quarter earnings report, the company earned $19.3 billion in sales in 2012; gain in operating income there was also a $38 billion, making 2012 with sales growth the fourth straight year. Unfortunately, this is but one saving grace or else horrible report card. Net income has decreased by $51 million year over year and also costs of steel production have surpassed by a net of $400000. Other companies like Nucor Corporation (NYSE:NUE) and ArcelorMittal (ADR) (NYSE:MT) haven’t been affected as much by this, mostly because the companies are more efficient, which U.S. Steel historically hasn’t been.