B. Riley Wealth Advisors Inc. Has $2.99 Million Stake in United States Steel Co. (NYSE:X)

B. Riley Wealth Advisors Inc. increased its position in shares of United States Steel Co. (NYSE:X) by 60.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,240 shares of the basic materials company’s stock after buying an additional 27,494 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in United States Steel were worth $2,987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in shares of United States Steel by 77.0% in the fourth quarter. Pacer Advisors Inc. now owns 33,111 shares of the basic materials company’s stock valued at $1,611,000 after purchasing an additional 14,405 shares during the last quarter. JB Capital LLC bought a new stake in shares of United States Steel in the fourth quarter valued at about $221,000. Oak Thistle LLC bought a new stake in shares of United States Steel in the fourth quarter valued at about $560,000. TriaGen Wealth Management LLC bought a new stake in shares of United States Steel in the fourth quarter valued at about $549,000. Finally, Requisite Capital Management LLC bought a new stake in shares of United States Steel in the fourth quarter valued at about $224,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

United States Steel Price Performance

Shares of NYSE:X opened at $41.13 on Thursday. United States Steel Co. has a 1-year low of $22.26 and a 1-year high of $50.20. The stock’s fifty day simple moving average is $38.06 and its two-hundred day simple moving average is $41.04. The company has a current ratio of 1.71, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock has a market cap of $9.25 billion, a PE ratio of 12.05 and a beta of 1.93.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The firm had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.22 billion. United States Steel had a return on equity of 10.61% and a net margin of 4.89%. As a group, analysts forecast that United States Steel Co. will post 2.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on X shares. Morgan Stanley raised United States Steel from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $51.00 to $48.00 in a research note on Monday, May 6th. StockNews.com started coverage on United States Steel in a research note on Friday, July 26th. They set a “hold” rating for the company. JPMorgan Chase & Co. lowered their target price on United States Steel from $43.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. BMO Capital Markets raised United States Steel from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $43.00 to $45.00 in a research note on Wednesday, June 26th. Finally, Wolfe Research raised United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price objective for the company in a research note on Tuesday, April 9th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $40.00.

About United States Steel

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.