Posco (PKX) Shares Up 1.8%
Posco (NYSE:PKX) shares shot up 1.8% during trading on Wednesday . The stock traded as high as $49.78 and last traded at $49.42, with a volume of 117,089 shares traded. The stock had previously closed at $48.53.
Several analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Posco from a “buy” rating to a “hold” rating in a research report on Tuesday, June 21st. Macquarie raised shares of Posco from a “neutral” rating to an “outperform” rating in a research report on Thursday, July 21st. Credit Agricole SA raised shares of Posco from a “sell” rating to an “underperform” rating in a research report on Monday, June 27th. Finally, Deutsche Bank AG downgraded shares of Posco from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Posco has an average rating of “Hold”.
The firm has a 50 day moving average of $48.47 and a 200-day moving average of $46.18. The company has a market cap of $16.20 billion and a P/E ratio of 68.60.
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 firm owned 346,582 shares of the company’s stock after buying an additional 23,138 shares during the period. Morgan Stanley owned 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.