Posco (PKX) Shares Gap Up to $49.22
Posco (NYSE:PKX)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $49.15, but opened at $49.22. Posco shares last traded at $50.14, with a volume of 125,406 shares changing hands.
Several equities analysts have weighed in on PKX shares. Deutsche Bank AG cut Posco from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Credit Agricole SA cut Posco from an “outperform” rating to a “sell” rating in a report on Monday, May 9th. Zacks Investment Research cut Posco from a “buy” rating to a “hold” rating in a report on Tuesday, June 21st. Finally, Macquarie raised Posco from a “neutral” rating to an “outperform” rating in a report on Thursday, July 21st. Two investment 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 has a consensus rating of “Hold”.
The firm has a market cap of $16.49 billion and a P/E ratio of 70.06. The stock’s 50-day moving average is $48.80 and its 200 day moving average is $46.23.
An institutional investor recently raised its position in Posco stock. Morgan Stanley raised its stake in shares of Posco (NYSE:PKX) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 346,582 shares of the company’s stock after buying an additional 23,138 shares during the period. Morgan Stanley owned approximately 0.11% of Posco worth $12,255,000 at the end of the most recent reporting 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.