POSCO (NYSE:PKX) Shares Gap Up – Here’s What Happened

POSCO (NYSE:PKX)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $55.21, but opened at $58.77. POSCO shares last traded at $59.6250, with a volume of 46,877 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of POSCO in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, POSCO presently has a consensus rating of “Hold”.

POSCO Price Performance

The business’s fifty day moving average price is $54.24 and its 200 day moving average price is $53.58. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.96 and a quick ratio of 1.38. The stock has a market cap of $18.27 billion, a P/E ratio of 83.50, a PEG ratio of 0.33 and a beta of 1.49.

POSCO (NYSE:PKX) last released its quarterly earnings data on Monday, October 27th. The basic materials company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. POSCO had a net margin of 0.64% and a return on equity of 0.74%. The business had revenue of $12.29 billion during the quarter, compared to analysts’ expectations of $12.41 billion. Sell-side analysts forecast that POSCO will post 3.74 EPS for the current fiscal year.

Institutional Investors Weigh In On POSCO

Hedge funds have recently modified their holdings of the company. Founders Capital Management raised its position in POSCO by 100.0% in the third quarter. Founders Capital Management now owns 600 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 300 shares during the last quarter. Allworth Financial LP increased its stake in shares of POSCO by 51.6% in the third quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock valued at $34,000 after buying an additional 232 shares during the period. Ameritas Advisory Services LLC bought a new position in POSCO in the 2nd quarter valued at approximately $66,000. Headlands Technologies LLC raised its holdings in POSCO by 1,276.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,432 shares of the basic materials company’s stock valued at $69,000 after buying an additional 1,328 shares during the last quarter. Finally, MAI Capital Management acquired a new stake in POSCO during the 2nd quarter worth approximately $73,000.

About POSCO

POSCO (NYSE: PKX) is a South Korea–based integrated steel producer founded in 1968 as Pohang Iron and Steel Company. Headquartered in Pohang, the company grew rapidly as part of South Korea’s industrialization program and developed large, integrated steelworks—most notably in Pohang and Gwangyang—that helped establish POSCO among the world’s largest steelmakers. It is structured as a diversified industrial group with steelmaking at its core and a range of downstream and trading businesses.

The company’s primary activities include ironmaking and steelmaking, producing a wide array of steel products such as hot-rolled and cold-rolled sheets, coated steels, plates, stainless and special steels, long products (bars and wire rods), and seamless pipes.