Posco (PKX) Trading 0.8% Higher
Shares of Posco (NYSE:PKX) traded up 0.8% during mid-day trading on Wednesday . The stock traded as high as $51.47 and last traded at $50.79, with a volume of 269,881 shares trading hands. The stock had previously closed at $50.37.
Several analysts have issued reports on the stock. Credit Agricole SA lowered shares of Posco from an “outperform” rating to a “sell” rating in a research report on Monday, May 9th. Macquarie upgraded shares of Posco from a “neutral” rating to an “outperform” rating in a research report on Thursday, July 21st. Finally, Zacks Investment Research lowered shares of Posco from a “buy” rating to a “hold” rating in a research report on Tuesday, June 21st. Two research 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 company currently has a consensus rating of “Hold”.
The firm has a 50 day moving average price of $49.49 and a 200-day moving average price of $46.73. The stock has a market capitalization of $17.12 billion and a P/E ratio of 72.74.
An institutional investor recently raised its position in Posco stock. Morgan Stanley boosted its position in Posco (NYSE:PKX) by 7.2% during the fourth quarter, according to its most recent Form 13F filing 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 about 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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