Posco (PKX) Trading Down 3.1%
Posco (NYSE:PKX) dropped 3.1% on Wednesday . The company 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.
A number of equities research analysts have commented on PKX shares. Deutsche Bank AG lowered Posco from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Zacks Investment Research lowered Posco from a “buy” rating to a “hold” rating in a research report on Tuesday, June 21st. Macquarie upgraded Posco from a “neutral” rating to an “outperform” rating in a research report on Thursday, July 21st. Finally, Credit Agricole SA lowered Posco from an “outperform” rating to a “sell” rating in a research report on Monday, May 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold”.
The firm has a 50-day moving average price of $48.12 and a 200-day moving average price of $45.80. The stock has a market cap of $15.57 billion and a price-to-earnings ratio of 107.32.
A hedge fund recently raised its stake in Posco stock. Morgan Stanley boosted 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 firm 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.
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