POSCO (NYSE:PKX) Position Boosted by Wetherby Asset Management Inc.
Wetherby Asset Management Inc. raised its position in shares of POSCO (NYSE:PKX) by 1.8% during the second quarter, Holdings Channel reports. The firm owned 12,625 shares of the basic materials company’s stock after buying an additional 221 shares during the period. Wetherby Asset Management Inc.’s holdings in POSCO were worth $790,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in POSCO by 10.6% in the first quarter. Bank of America Corp DE now owns 314,202 shares of the basic materials company’s stock worth $20,267,000 after buying an additional 30,009 shares during the period. Jane Street Group LLC boosted its stake in POSCO by 1,544.3% in the first quarter. Jane Street Group LLC now owns 102,853 shares of the basic materials company’s stock worth $6,634,000 after buying an additional 96,598 shares during the period. AQR Capital Management LLC boosted its stake in POSCO by 9.9% in the fourth quarter. AQR Capital Management LLC now owns 9,330 shares of the basic materials company’s stock worth $490,000 after buying an additional 839 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in POSCO by 8.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 51,017 shares of the basic materials company’s stock worth $3,274,000 after buying an additional 4,000 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in POSCO during the first quarter worth $386,000. 5.96% of the stock is currently owned by institutional investors.
POSCO (PKX) opened at 72.49 on Friday. POSCO has a 1-year low of $47.45 and a 1-year high of $76.04. The company’s 50 day moving average is $69.07 and its 200-day moving average is $62.73. The firm has a market cap of $23.20 billion, a price-to-earnings ratio of 14.27 and a beta of 1.13.
A number of equities research analysts have recently weighed in on PKX shares. CLSA raised POSCO from an “underperform” rating to an “outperform” rating in a report on Thursday, July 20th. Standpoint Research cut POSCO from a “buy” rating to a “hold” rating in a report on Monday. BidaskClub raised POSCO from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Finally, UBS AG raised POSCO from a “neutral” rating to a “buy” rating in a report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.00.
POSCO Company Profile
POSCO is a Korea-based company principally engaged in the manufacture and distribution of steel products. The Company operates in four segments: steel, trading, construction, and others. The steel segment includes production of steel products and sale of such products. The trading segment consists of global trading activities of POSCO Daewoo Corporation, exporting and importing a range of steel products that are both obtained from and supplied to it, as well as between other suppliers and purchasers in Korea and overseas.
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