Posco (PKX) Shares Down 4.7%
Shares of Posco (NYSE:PKX) traded down 4.7% during trading on Tuesday . The company traded as low as $47.54 and last traded at $47.55, with a volume of 152,447 shares changing hands. The stock had previously closed at $49.87.
A number of analysts recently commented on the company. HSBC lowered Posco from a “hold” rating to a “reduce” rating in a research note on Friday, April 15th. Deutsche Bank AG lowered Posco from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Credit Agricole SA lowered Posco from an “outperform” rating to a “sell” rating in a research note on Monday, May 9th. JPMorgan Chase & Co. raised Posco from a “neutral” rating to an “overweight” rating in a research note on Tuesday, April 5th. Finally, Zacks Investment Research raised Posco from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 29th. Two 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 presently has an average rating of “Hold”.
The stock has a market cap of $15.29 billion and a price-to-earnings ratio of 109.99. The firm’s 50-day moving average is $45.03 and its 200-day moving average is $43.58.
Several hedge funds have recently bought and sold shares of PKX. New York State Common Retirement Fund increased its stake in 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. Deere & Co. increased its stake in 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 increased its stake in 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, Dimensional Fund Advisors LP increased its stake in 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.
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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