Bank of Montreal Can Sells 216,429 Shares of United States Steel Co. (NYSE:X)

Bank of Montreal Can lessened its holdings in United States Steel Co. (NYSE:X) by 80.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,091 shares of the basic materials company’s stock after selling 216,429 shares during the quarter. Bank of Montreal Can’s holdings in United States Steel were worth $2,090,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in X. Rothschild Investment LLC purchased a new stake in shares of United States Steel in the 2nd quarter worth $26,000. Riverview Trust Co purchased a new stake in shares of United States Steel in the 1st quarter worth $29,000. Blue Trust Inc. lifted its stake in shares of United States Steel by 339.0% during the 2nd quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 773 shares during the last quarter. Pineridge Advisors LLC purchased a new stake in shares of United States Steel during the 4th quarter worth $44,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of United States Steel during the 2nd quarter worth $46,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price objective for the company in a research note on Friday, September 6th. BMO Capital Markets upgraded United States Steel from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $43.00 to $45.00 in a research note on Wednesday, June 26th. Jefferies Financial Group decreased their price objective on United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Glj Research upgraded United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective for the company in a research note on Monday, September 9th. Finally, Morgan Stanley increased their price target on United States Steel from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.62.

United States Steel Stock Up 1.0 %

Shares of X stock opened at $34.93 on Friday. The stock’s 50-day simple moving average is $37.64 and its 200-day simple moving average is $38.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.72. The firm has a market capitalization of $7.86 billion, a PE ratio of 10.24 and a beta of 1.88. United States Steel Co. has a fifty-two week low of $26.92 and a fifty-two week high of $50.20.

United States Steel (NYSE:X) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.12. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.01 billion. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The company’s revenue was down 17.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.92 earnings per share. Equities analysts expect that United States Steel Co. will post 2.18 earnings per share for the current year.

United States Steel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 12th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.57%. The ex-dividend date was Monday, August 12th. United States Steel’s dividend payout ratio (DPR) is 5.87%.

United States Steel Company Profile

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.