Canton Hathaway LLC Takes $72,000 Position in United States Steel Co. (NYSE:X)

Canton Hathaway LLC purchased a new position in United States Steel Co. (NYSE:X) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 2,050 shares of the basic materials company’s stock, valued at approximately $72,000.

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

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Morgan Stanley upped their price objective on United States Steel from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Jefferies Financial Group lowered their price objective on shares of United States Steel from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. BMO Capital Markets dropped their price objective on shares of United States Steel from $45.00 to $43.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. StockNews.com assumed coverage on shares of United States Steel in a research report on Monday, August 19th. They set a “hold” rating on the stock. Finally, BNP Paribas upgraded United States Steel from a “neutral” rating to an “outperform” rating and set a $40.00 price target for the company in a research report on Friday, September 6th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.80.

United States Steel Trading Up 0.8 %

Shares of X opened at $39.34 on Monday. The company’s fifty day simple moving average is $37.84 and its 200-day simple moving average is $37.85. The company has a market cap of $8.86 billion, a P/E ratio of 25.68 and a beta of 1.86. 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 twelve month low of $26.92 and a twelve month high of $50.20.

United States Steel (NYSE:X) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.56 earnings per share for the quarter, topping 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 company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the company posted $1.36 EPS. The firm’s revenue for the quarter was down 13.0% on a year-over-year basis. As a group, analysts expect that United States Steel Co. will post 2.21 EPS for the current year.

United States Steel Announces Dividend

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

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.