Posco (PKX) Shares Gap Up to $49.22
Posco (NYSE:PKX) shares gapped up before the market opened on Thursday . The stock had previously closed at $49.15, but opened at $49.22. Posco shares last traded at $50.14, with a volume of 125,406 shares changing hands.
PKX has been the topic of a number of research analyst reports. 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 downgraded shares of Posco from a “buy” rating to a “hold” rating in a research report on Tuesday, June 21st. Deutsche Bank AG downgraded shares of Posco from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Finally, Macquarie upgraded shares of Posco from a “neutral” rating to an “outperform” rating in a research report on Thursday, July 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 stock has a market capitalization of $16.16 billion and a PE ratio of 68.65. The stock has a 50 day moving average price of $48.97 and a 200 day moving average price of $46.32.
An institutional investor recently raised its position in Posco stock. Morgan Stanley increased its position in Posco (NYSE:PKX) by 7.2% during the fourth quarter, according to its most recent disclosure with the 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 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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