Posco (PKX) Shares Up 2.9%
Posco (NYSE:PKX) shot up 2.9% on Tuesday . The stock traded as high as $51.45 and last traded at $51.36, with a volume of 200,695 shares. The stock had previously closed at $49.92.
Several brokerages have weighed in on PKX. Macquarie raised Posco from a “neutral” rating to an “outperform” rating in a report on Thursday, July 21st. Deutsche Bank AG downgraded Posco from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Zacks Investment Research downgraded Posco from a “buy” rating to a “hold” rating in a report on Tuesday, June 21st. 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, three have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold”.
The stock has a market capitalization of $16.35 billion and a PE ratio of 112.68. The stock has a 50-day moving average of $47.58 and a 200 day moving average of $45.64.
Several large investors 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 valued at $8,388,000 after buying an additional 3,160 shares in the last quarter. Morgan Stanley increased its stake in shares of Posco by 7.2% in the fourth quarter. Morgan Stanley now owns 346,582 shares of the company’s stock valued at $12,255,000 after buying an additional 23,138 shares during the period. Finally, RWWM Inc. increased its stake in shares of Posco by 59.0% in the fourth quarter. RWWM Inc. now owns 171,610 shares of the company’s stock valued at $6,068,000 after buying an additional 63,707 shares during the period.
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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