Posco (PKX) Trading Down 3.1%
Posco (NYSE:PKX) fell 3.1% during trading on Wednesday . The stock traded as low as $49.26 and last traded at $49.51, with a volume of 132,011 shares traded. The stock had previously closed at $51.11.
Several brokerages have commented on PKX. 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. Macquarie upgraded Posco from a “neutral” rating to an “outperform” rating in a research note on Thursday, July 21st. Finally, Zacks Investment Research lowered Posco from a “buy” rating to a “hold” rating in a research note on Tuesday, June 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold”.
The firm has a 50 day moving average of $47.87 and a 200 day moving average of $45.75. The company has a market capitalization of $15.88 billion and a P/E ratio of 109.46.
Several hedge funds have modified their holdings of PKX. RWWM Inc. boosted 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. Morgan Stanley boosted 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, New York State Common Retirement Fund boosted its stake 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 valued at $8,388,000 after buying an additional 3,160 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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