Bank of Montreal Can Acquires 9,112 Shares of 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% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,203 shares of the basic materials company’s stock after buying an additional 9,112 shares during the period. Bank of Montreal Can’s holdings in United States Steel were worth $2,251,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in X. Rothschild Investment LLC acquired a new stake in shares of United States Steel in the 2nd quarter valued at $26,000. Palouse Capital Management Inc. acquired a new stake in shares of United States Steel during the third quarter worth $35,000. Gladius Capital Management LP bought a new position in United States Steel during the third quarter worth about $39,000. Blue Trust Inc. raised its position in shares of United States Steel by 339.0% in the 2nd quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 773 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of United States Steel during the second quarter worth $46,000. Institutional investors own 81.92% of the company’s stock.

United States Steel Price Performance

United States Steel stock opened at $38.85 on Friday. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 25.56 and a beta of 1.83. The stock’s 50 day moving average is $38.21 and its 200-day moving average is $37.96. The company has a current ratio of 1.67, a quick ratio of 1.08 and a debt-to-equity ratio of 0.35. United States Steel Co. has a 12 month low of $26.92 and a 12 month high of $50.20.

United States Steel (NYSE:X) last announced its earnings results on Thursday, October 31st. The basic materials company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.41 by $0.15. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.77 billion. United States Steel had a net margin of 2.41% and a return on equity of 6.01%. The business’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same period last year, the firm earned $1.36 earnings per share. Equities research analysts expect that United States Steel Co. will post 2.21 EPS for the current year.

United States Steel Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Monday, November 11th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Friday, November 8th. United States Steel’s payout ratio is presently 13.16%.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com assumed coverage on shares of United States Steel in a report on Monday, August 19th. They set a “hold” rating on the stock. BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Friday, September 6th. Glj Research raised United States Steel from a “sell” rating to a “buy” rating and set a $38.57 price objective for the company in a research report on Monday, September 9th. BMO Capital Markets dropped their target price on United States Steel from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised United States Steel from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $42.00 in a research report on Monday, September 9th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.80.

United States Steel 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.