United States Steel Co. (NYSE:X) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its stake in shares of United States Steel Co. (NYSE:X) by 37.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,746 shares of the basic materials company’s stock after selling 27,494 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in United States Steel were worth $2,226,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Third Point LLC acquired a new position in United States Steel in the third quarter valued at $154,280,000. Norges Bank acquired a new position in United States Steel in the fourth quarter valued at $200,952,000. KRYGER CAPITAL Ltd acquired a new position in United States Steel in the fourth quarter valued at $95,529,000. Laurion Capital Management LP acquired a new position in United States Steel in the third quarter valued at $50,912,000. Finally, Segantii Capital Management Ltd acquired a new position in United States Steel in the fourth quarter valued at $68,840,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

United States Steel Stock Performance

NYSE:X opened at $37.07 on Wednesday. The firm has a 50 day simple moving average of $37.86 and a 200-day simple moving average of $42.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.71 and a quick ratio of 1.14. The firm has a market cap of $8.34 billion, a PE ratio of 10.87 and a beta of 1.99. United States Steel Co. has a 1-year low of $22.26 and a 1-year high of $50.20.

United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.77 by $0.01. United States Steel had a net margin of 4.89% and a return on equity of 10.61%. The firm had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.22 billion. On average, equities analysts expect that United States Steel Co. will post 2.72 EPS for the current year.

United States Steel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Monday, May 13th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Friday, May 10th. United States Steel’s dividend payout ratio (DPR) is 5.87%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on X. Morgan Stanley raised shares of United States Steel from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $51.00 to $48.00 in a report on Monday, May 6th. Jefferies Financial Group began coverage on shares of United States Steel in a report on Monday, May 20th. They issued a “buy” rating and a $45.00 target price on the stock. StockNews.com began coverage on shares of United States Steel in a report on Sunday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. lowered their target price on shares of United States Steel from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Finally, Wolfe Research raised shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a report on Tuesday, April 9th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, United States Steel currently has a consensus rating of “Hold” and an average price target of $38.78.

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.