Posco (PKX) Trading 0.8% Higher
Shares of Posco (NYSE:PKX) traded up 0.8% during trading on Wednesday . The company traded as high as $51.47 and last traded at $50.79, with a volume of 269,881 shares. The stock had previously closed at $50.37.
PKX has been the topic of several recent research reports. Macquarie upgraded Posco from a “neutral” rating to an “outperform” rating in a research report on Thursday, July 21st. Credit Agricole SA upgraded Posco from a “sell” rating to an “underperform” rating in a research report on Monday, June 27th. Finally, Zacks Investment Research downgraded Posco from a “buy” rating to a “hold” rating in a research report on Tuesday, June 21st. Two 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. Posco currently has an average rating of “Hold”.
The firm has a market cap of $16.77 billion and a PE ratio of 71.26. The firm has a 50-day moving average of $49.30 and a 200-day moving average of $46.67.
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 13F filing with the SEC. The institutional investor 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 quarter.
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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