NEW YORK (TheStreet) -- United States Steel (X) shares are down 1.9% to $41.90 on Thursday after the pace of monthly steel production growth slowed for the second consecutive month, according to a World Steel Association report.
While global production grew for the seventh straight month, the growth rate for August was 1.4%, down from the 1.7% production growth from the month before.
Increased output from the U.S. and Asia helped offset flat production from Europe according to the report.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
TheStreet Ratings team rates UNITED STATES STEEL CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate UNITED STATES STEEL CORP (X) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, good cash flow from operations and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, poor profit margins and generally higher debt management risk."
Highlights from the analysis by TheStreet Ratings Team goes as follows: