Posco (PKX) Sees Strong Trading Volume
Posco (NYSE:PKX) saw unusually-high trading volume on Monday . Approximately 238,053 shares were traded during trading, a decline of 2% from the previous session’s volume of 242,342 shares.The stock last traded at $50.75 and had previously closed at $49.10.
PKX has been the topic of several analyst reports. Deutsche Bank AG downgraded Posco from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Credit Agricole SA downgraded Posco from an “outperform” rating to a “sell” rating in a research report on Monday, May 9th. Macquarie upgraded Posco from a “neutral” rating to an “outperform” rating in a research report on Thursday, July 21st. Finally, Zacks Investment Research downgraded Posco from a “buy” rating to a “hold” rating in a research report on Tuesday, June 21st. 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. The stock presently has an average rating of “Hold”.
The firm has a market cap of $16.68 billion and a price-to-earnings ratio of 70.86. The company’s 50-day moving average is $49.15 and its 200 day moving average is $46.57.
A hedge fund recently raised its stake 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 disclosure 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 as of its most recent filing with the SEC.
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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