Posco (PKX) Trading 2.9% Higher
Shares of Posco (NYSE:PKX) traded up 2.9% during trading on Tuesday . The company traded as high as $51.45 and last traded at $51.36, with a volume of 200,695 shares traded. The stock had previously closed at $49.92.
A number of analysts have recently commented on the company. Macquarie raised Posco from a “neutral” rating to an “outperform” rating in a research report on Thursday, July 21st. Deutsche Bank AG cut Posco from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Zacks Investment Research cut Posco from a “buy” rating to a “hold” rating in a research report on Tuesday, June 21st. Finally, Credit Agricole SA cut Posco from an “outperform” rating to a “sell” rating in a research report on Monday, May 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Posco presently has an average rating of “Hold”.
The stock has a market capitalization of $15.88 billion and a P/E ratio of 109.46. The firm has a 50-day moving average price of $48.06 and a 200 day moving average price of $45.77.
A number of hedge funds have recently bought and sold shares of PKX. New York State Common Retirement Fund raised 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 during the period. Morgan Stanley raised 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 during the period. Finally, RWWM Inc. raised its stake in Posco by 59.0% in the fourth quarter. RWWM Inc. now owns 171,610 shares of the company’s stock worth $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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