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Wednesday, 02/06/2002

X - United States Steel

Company Description

United States Steel executive offices are in Pittsburgh, Pennsylvania. It manufactures and sells a wide variety of steel mill products, coke and taconite pellets. Domestic primary steel operations include the Gary (Indiana) Works, the Fairfield (Alabama) Works near Birmingham, and the Mon Valley Works, which includes the Edgar Thomson steelmaking and Irvin finishing operations on the Monongahela River near Pittsburgh. U. S. Steel's coke production takes place at the Clairton Works - also on the Monongahela River - and at Gary Works. At Minntac, on the northern Minnesota's Mesabi Iron Range, iron ore mining and taconite pellet operations support the steelmaking effort.

U. S. Steel is also involved in a number of other businesses, among them coal mining, mineral resources management, transportation (Transtar, Inc.), real estate development, technology licensing and engineering and consulting services (USX Engineers & Consultants, Inc. [UEC]) and leasing and financial services.

(Source: U.S. Steel)

Reasons To Invest

The steel industry has been depressed for a long time. But signs of a turnaround are on the horizon.

U.S. Steel, the nation's largest steel industry firm, pointed to better times during its fourth-quarter earnings release in late January. The company noted the stabilization in steel prices. Additionally, the company said that its orders were improving.

The company acknowledged the excess capacity in the steel market and the increased amount of imported product. The two events have combined to pressure the price of steel to levels not seen in decades. But, officials guided investors to expect an improvement in shipments during the first-quarter of this year.

The company's most recent earnings report followed an initiative set forth by domestic steel makers to consolidate the industry in an attempt to better manage prices. The effort comes at a time when industrial production is increasing thanks to strength in select markets such as the auto industry.

Though risks still exist and the signs are preliminary, the recent spate of lukewarm news in the steel sector could lead to an eventual recovery. Stocks within the sector have been among the better market performers recently and could continue higher with a rebound in the economy. In the meantime, turnaround investors might take a closer look at shares of U.S. Steel.

DRIP Information:
Shares to Qualify = 1           Accept Foreign Accounts: Yes
Auto-reinvestment = Yes         Temper Enrollment Serv:  Yes

Min/Max Investment = $50 to $1,000/month

Reinvestment Fees -

Div : 0 
Cash: 0
Auto: 0

Transfer Agent:

USX Corp.


Industry Group:            Steel  52-week high=$22.00
Annual Dividend Per Share=  0.20  52-week low =$13.00
Last earnings 01/29   est =-1.00  actual =-1.36
Next earnings 04-18   est =-0.84  versus =-1.12
                                     P/E =  N/A
Analyst Ratings:
Strong Buy    = 3
Moderate Buy  = 0
Hold          = 6
Moderate Sell = 0
Strong Sell   = 0


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