Posco (PKX) Shares Gap Down to $45.23
Posco (NYSE:PKX) shares gapped down before the market opened on Tuesday . The stock had previously closed at $44.65, but opened at $45.23. Posco shares last traded at $46.57, with a volume of 227,313 shares.
Several research analysts have recently weighed in on PKX shares. TheStreet upgraded Posco from a “sell” rating to a “hold” rating in a report on Wednesday, March 16th. Zacks Investment Research upgraded Posco from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 29th. JPMorgan Chase & Co. upgraded Posco from a “neutral” rating to an “overweight” rating in a report on Tuesday, April 5th. HSBC cut Posco from a “hold” rating to a “reduce” rating in a report on Friday, April 15th. Finally, Deutsche Bank AG cut Posco from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Posco presently has a consensus rating of “Hold”.
The company has a 50-day moving average price of $44.37 and a 200-day moving average price of $43.19. The stock has a market cap of $14.94 billion and a P/E ratio of 108.71.
A number of hedge funds and institutional investors recently modified their holdings of the stock. New York State Common Retirement Fund boosted its position 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 worth $8,388,000 after buying an additional 3,160 shares during the period. Morgan Stanley boosted its position in shares of 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. Deere & Co. boosted its position in shares of Posco by 20.2% in the fourth quarter. Deere & Co. now owns 29,024 shares of the company’s stock worth $1,026,000 after buying an additional 4,881 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Posco by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,380,207 shares of the company’s stock worth $119,533,000 after buying an additional 21,812 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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