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

Bank of Montreal Can decreased its position in shares of United States Steel Co. (NYSE:X - Free Report) by 80.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,091 shares of the basic materials company's stock after selling 216,429 shares during the period. Bank of Montreal Can's holdings in United States Steel were worth $2,090,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Rothschild Investment LLC acquired a new position in shares of United States Steel during the 2nd quarter worth $26,000. Riverview Trust Co acquired a new position in United States Steel during the first quarter worth $29,000. Blue Trust Inc. raised its holdings in United States Steel by 339.0% during the second quarter. Blue Trust Inc. now owns 1,001 shares of the basic materials company's stock valued at $41,000 after buying an additional 773 shares in the last quarter. Pineridge Advisors LLC acquired a new stake in shares of United States Steel in the fourth quarter worth about $44,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of United States Steel during the 2nd quarter worth about $46,000. Hedge funds and other institutional investors own 81.92% of the company's stock.

United States Steel Price Performance

United States Steel stock traded up $0.54 during trading hours on Friday, hitting $35.47. 2,766,116 shares of the stock were exchanged, compared to its average volume of 4,543,868. The stock has a market capitalization of $7.98 billion, a P/E ratio of 10.40 and a beta of 1.87. The business's 50-day moving average is $37.53 and its two-hundred day moving average is $38.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.72. 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 - Get Free Report) last announced its earnings results on Thursday, August 1st. The basic materials company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.72 by $0.12. United States Steel had a return on equity of 7.93% and a net margin of 3.40%. The company had revenue of $4.12 billion for the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter in the prior year, the business earned $1.92 earnings per share. The business's revenue for the quarter was down 17.8% on a year-over-year basis. Equities research analysts expect that United States Steel Co. will post 2.18 EPS for the current fiscal year.

United States Steel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Monday, August 12th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.56%. United States Steel's dividend payout ratio (DPR) is currently 5.87%.

Analysts Set New Price Targets

X has been the subject of several recent analyst reports. StockNews.com initiated coverage on shares of United States Steel in a report on Monday, August 19th. They set a "hold" rating for the company. Glj Research upgraded shares of United States Steel from a "sell" rating to a "buy" rating and set a $38.57 price target for the company in a report on Monday, September 9th. BNP Paribas upgraded United States Steel from a "neutral" rating to an "outperform" rating and set a $40.00 price objective on the stock in a research note on Friday, September 6th. JPMorgan Chase & Co. upgraded United States Steel from a "neutral" rating to an "overweight" rating and increased their target price for the company from $40.00 to $42.00 in a research note on Monday, September 9th. Finally, Morgan Stanley lifted their price target on United States Steel from $48.00 to $49.00 and gave the stock an "overweight" rating in a research report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.62.

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.