Numeric Investors LLC Cuts Holdings in POSCO (PKX)
Numeric Investors LLC trimmed its position in shares of POSCO (NYSE:PKX) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,000 shares of the basic materials company’s stock after selling 1,100 shares during the quarter. Numeric Investors LLC’s holdings in POSCO were worth $2,378,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. MAVEN SECURITIES Ltd bought a new stake in POSCO during the 1st quarter valued at approximately $187,000. Raymond James Financial Services Advisors Inc. bought a new stake in POSCO during the 1st quarter valued at approximately $229,000. BNP Paribas Arbitrage SA boosted its position in POSCO by 39.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,074 shares of the basic materials company’s stock valued at $263,000 after acquiring an additional 1,147 shares in the last quarter. Strategic Global Advisors LLC boosted its position in POSCO by 0.3% during the 2nd quarter. Strategic Global Advisors LLC now owns 4,306 shares of the basic materials company’s stock valued at $270,000 after acquiring an additional 15 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in POSCO during the 2nd quarter valued at approximately $293,000. 5.14% of the stock is currently owned by institutional investors and hedge funds.
Shares of POSCO (PKX) opened at 69.90 on Friday. The company has a market capitalization of $22.37 billion, a PE ratio of 12.43 and a beta of 1.11. The stock has a 50 day moving average price of $72.22 and a 200-day moving average price of $65.98. POSCO has a 12 month low of $49.37 and a 12 month high of $77.76.
Several research firms have weighed in on PKX. UBS AG raised POSCO from a “neutral” rating to a “buy” rating in a research report on Thursday, July 6th. BidaskClub raised POSCO from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. CLSA raised POSCO from an “underperform” rating to an “outperform” rating in a research report on Thursday, July 20th. Standpoint Research cut POSCO from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Zacks Investment Research cut POSCO from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy”.
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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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