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U.S. Steel (X) Invests in Carnegie Foundry, Boosts Robotics & AI
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United States Steel Corporation (X - Free Report) recently announced a strategic investment and partnership with Carnegie Foundry, a leading robotics and AI studio. The companies will work on boosting industrial automation driven by advanced robotics and AI.
The investment will be used by Carnegie to speed up venture opportunities—commercializing and expanding its industrial automation portfolio of robotics and AI technologies in advanced manufacturing, automated warehouses and supply chains, industrial robotics, integrated systems, autonomous mobility, voice analytics and more.
Carnegie Foundry, in partnership with the National Robotics Engineering Center at Carnegie Mellon University, develops and commercializes cutting-edge intellectual propertyand advanced prototypes.
U.S. Steel along with anchor investor, Oshkosh Corporation will be on the Carnegie Foundry Board of Directors as part of the strategic partnership.
U.S. Steel, with its investment in Carnegie Foundry, will continue to develop the Best for All strategy — innovating mediums to serve through profitable solutions for people and the planet. The partnership’s primary objective is innovation in robotics and designing autonomous solutions for the industry. These highly-advanced technologies will be necessary to meet customers’ needs to maintain a strong supply chain.
Shares of U.S. Steel have moved up 7.7% in the past year compared with a 31.3% rise of the industry.
Image Source: Zacks Investment Research
The company, in its fourth-quarter call, noted that it entered 2022 from a position of strength and is focused on continuing its disciplined approach to creating shareholder value. It expects 2022 to be another strong year for the company. Its balance sheet has been transformed and its capital allocation priorities have enhanced direct returns to shareholders, U.S. Steel noted.
United States Steel Corporation Price and Consensus
U.S. Steel currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Albemarle Corporation (ALB - Free Report) , Nutrien Ltd. (NTR - Free Report) and AdvanSix Inc. (ASIX - Free Report) .
Albemarle, currently sporting a Zacks Rank #1 (Strong Buy), has an expected earnings growth rate of 51.3% for the current year. The Zacks Consensus Estimate for ALB's earnings for the current year has been revised 5.4% upward in the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
Albemarle beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 22.1%. ALB has rallied around 24% over a year.
Nutrien, sporting a Zacks Rank #1, has a projected earnings growth rate of 53.8% for the current year. The Zacks Consensus Estimate for NTR's current-year earnings has been revised 17.4% upward in the past 60 days.
Nutrien beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing once. It has a trailing four-quarter earnings surprise of roughly 73.5%, on average. NTR has rallied around 37.8% in a year.
AdvanSix has a projected earnings growth rate of 7.4% for the current year. The Zacks Consensus Estimate for ASIX’s current-year earnings has been revised 5.3% upward in the past 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 46.9%. ASIX has surged 84.7% over a year. The company sports a Zacks Rank #1.
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U.S. Steel (X) Invests in Carnegie Foundry, Boosts Robotics & AI
United States Steel Corporation (X - Free Report) recently announced a strategic investment and partnership with Carnegie Foundry, a leading robotics and AI studio. The companies will work on boosting industrial automation driven by advanced robotics and AI.
The investment will be used by Carnegie to speed up venture opportunities—commercializing and expanding its industrial automation portfolio of robotics and AI technologies in advanced manufacturing, automated warehouses and supply chains, industrial robotics, integrated systems, autonomous mobility, voice analytics and more.
Carnegie Foundry, in partnership with the National Robotics Engineering Center at Carnegie Mellon University, develops and commercializes cutting-edge intellectual propertyand advanced prototypes.
U.S. Steel along with anchor investor, Oshkosh Corporation will be on the Carnegie Foundry Board of Directors as part of the strategic partnership.
U.S. Steel, with its investment in Carnegie Foundry, will continue to develop the Best for All strategy — innovating mediums to serve through profitable solutions for people and the planet. The partnership’s primary objective is innovation in robotics and designing autonomous solutions for the industry. These highly-advanced technologies will be necessary to meet customers’ needs to maintain a strong supply chain.
Shares of U.S. Steel have moved up 7.7% in the past year compared with a 31.3% rise of the industry.
The company, in its fourth-quarter call, noted that it entered 2022 from a position of strength and is focused on continuing its disciplined approach to creating shareholder value. It expects 2022 to be another strong year for the company. Its balance sheet has been transformed and its capital allocation priorities have enhanced direct returns to shareholders, U.S. Steel noted.
United States Steel Corporation Price and Consensus
United States Steel Corporation price-consensus-chart | United States Steel Corporation Quote
Zacks Rank & Key Picks
U.S. Steel currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Albemarle Corporation (ALB - Free Report) , Nutrien Ltd. (NTR - Free Report) and AdvanSix Inc. (ASIX - Free Report) .
Albemarle, currently sporting a Zacks Rank #1 (Strong Buy), has an expected earnings growth rate of 51.3% for the current year. The Zacks Consensus Estimate for ALB's earnings for the current year has been revised 5.4% upward in the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.
Albemarle beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 22.1%. ALB has rallied around 24% over a year.
Nutrien, sporting a Zacks Rank #1, has a projected earnings growth rate of 53.8% for the current year. The Zacks Consensus Estimate for NTR's current-year earnings has been revised 17.4% upward in the past 60 days.
Nutrien beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing once. It has a trailing four-quarter earnings surprise of roughly 73.5%, on average. NTR has rallied around 37.8% in a year.
AdvanSix has a projected earnings growth rate of 7.4% for the current year. The Zacks Consensus Estimate for ASIX’s current-year earnings has been revised 5.3% upward in the past 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 46.9%. ASIX has surged 84.7% over a year. The company sports a Zacks Rank #1.