Posco (PKX) Trading Up 4.7%
Posco (NYSE:PKX)’s share price was up 4.7% during mid-day trading on Wednesday . The company traded as high as $49.49 and last traded at $48.88, with a volume of 387,334 shares changing hands. The stock had previously closed at $46.69.
A number of equities analysts have issued reports on PKX shares. Zacks Investment Research lowered Posco from a “buy” rating to a “hold” rating in a research report on Tuesday, June 21st. Deutsche Bank AG downgraded Posco from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. JPMorgan Chase & Co. upgraded Posco from a “neutral” rating to an “overweight” rating in a report on Tuesday, April 5th. HSBC downgraded Posco from a “hold” rating to a “reduce” rating in a report on Friday, April 15th. Finally, Credit Agricole SA downgraded Posco from an “outperform” rating to a “sell” rating in a report on Monday, May 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold”.
The company has a 50-day moving average price of $44.69 and a 200 day moving average price of $43.28. The company has a market capitalization of $15.95 billion and a PE ratio of 116.04.
Other hedge funds and institutional investors recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Posco by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,380,207 shares of the company’s stock worth $119,533,000 after buying an additional 21,812 shares in the last quarter. Deere & Co. raised its position in shares of Posco by 20.2% in the fourth quarter. Deere & Co. now owns 29,024 shares of the company’s stock worth $1,026,000 after buying an additional 4,881 shares in the last quarter. Morgan Stanley raised its position in shares of Posco by 7.2% in the fourth quarter. Morgan Stanley now owns 346,582 shares of the company’s stock worth $12,255,000 after buying an additional 23,138 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Posco by 1.4% in the fourth quarter. New York State Common Retirement Fund now owns 237,204 shares of the company’s stock worth $8,388,000 after buying an additional 3,160 shares in the last quarter.
POSCO is an integrated steel producer. The Company operates in four segments: steel segment, trading segment, construction segment and others segment. The steel segment includes production of steel products and sale of such products. The trading segment consists of global trading activities of Daewoo International, exporting and importing a range of steel products that are both obtained from and supplied to POSCO, as well as between other suppliers and purchasers in Korea and overseas.
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