Posco (PKX) Trading 1.8% Higher
Posco (NYSE:PKX) traded up 1.8% during trading on Wednesday . The company traded as high as $49.78 and last traded at $49.42, with a volume of 117,089 shares changing hands. The stock had previously closed at $48.53.
A number of equities research analysts have recently commented on the stock. Macquarie upgraded shares of Posco from a “neutral” rating to an “outperform” rating in a research report on Thursday, July 21st. Credit Agricole SA upgraded shares of Posco from a “sell” rating to an “underperform” rating in a research report on Monday, June 27th. Zacks Investment Research cut shares of Posco from a “buy” rating to a “hold” rating in a research report on Tuesday, June 21st. Finally, Deutsche Bank AG cut shares of Posco from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Two investment 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 currently has an average rating of “Hold”.
The firm has a 50-day moving average of $48.80 and a 200 day moving average of $46.23. The company has a market capitalization of $16.49 billion and a P/E ratio of 70.06.
A hedge fund recently raised its stake in Posco stock. Morgan Stanley raised its stake in Posco (NYSE:PKX) by 7.2% during the fourth quarter, according to its most recent 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 about 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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