Bank of Montreal Can Has $2.25 Million Position in United States Steel Co. (NYSE:X)

Bank of Montreal Can increased its stake in shares of United States Steel Co. (NYSE:X) by 16.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,203 shares of the basic materials company’s stock after purchasing an additional 9,112 shares during the quarter. Bank of Montreal Can’s holdings in United States Steel were worth $2,251,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Donald Smith & CO. Inc. raised its holdings in United States Steel by 7.4% in the 3rd quarter. Donald Smith & CO. Inc. now owns 4,719,845 shares of the basic materials company’s stock valued at $166,752,000 after buying an additional 326,876 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of United States Steel by 26.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,598,831 shares of the basic materials company’s stock valued at $162,477,000 after acquiring an additional 964,467 shares during the last quarter. KGH Ltd raised its stake in shares of United States Steel by 68.2% during the second quarter. KGH Ltd now owns 4,255,000 shares of the basic materials company’s stock valued at $160,839,000 after acquiring an additional 1,724,670 shares during the last quarter. Alpine Associates Management Inc. lifted its holdings in shares of United States Steel by 13.5% during the second quarter. Alpine Associates Management Inc. now owns 2,667,932 shares of the basic materials company’s stock worth $100,848,000 after purchasing an additional 316,800 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of United States Steel by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,600,708 shares of the basic materials company’s stock worth $91,883,000 after purchasing an additional 28,293 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

United States Steel Stock Up 1.2 %

Shares of NYSE:X opened at $38.85 on Friday. The firm has a market cap of $8.75 billion, a P/E ratio of 25.56 and a beta of 1.83. United States Steel Co. has a 52-week low of $26.92 and a 52-week high of $50.20. The business’s 50 day simple moving average is $38.21 and its two-hundred day simple moving average is $37.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.08 and a current ratio of 1.67.

United States Steel (NYSE:X) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the business posted $1.36 EPS. United States Steel’s quarterly revenue was down 13.0% on a year-over-year basis. As a group, research analysts forecast that United States Steel Co. will post 2.21 EPS for the current fiscal year.

United States Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 11th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Friday, November 8th. United States Steel’s dividend payout ratio is currently 13.16%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Jefferies Financial Group cut their target price on United States Steel from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. StockNews.com began coverage on shares of United States Steel in a research report on Monday, August 19th. They issued a “hold” rating on the stock. BNP Paribas raised shares of United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Friday, September 6th. JPMorgan Chase & Co. raised United States Steel from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $42.00 in a research note on Monday, September 9th. Finally, Glj Research upgraded United States Steel from a “sell” rating to a “buy” rating and set a $38.57 target price for the company in a report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, United States Steel currently has an average rating of “Moderate Buy” and an average price target of $42.80.

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.