Grantham Mayo Van Otterloo & Co. LLC Decreases Stock Position in POSCO $PKX

Grantham Mayo Van Otterloo & Co. LLC trimmed its holdings in POSCO (NYSE:PKX) by 16.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,277 shares of the basic materials company’s stock after selling 12,561 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in POSCO were worth $3,212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PKX. Bridgewater Advisors Inc. lifted its holdings in shares of POSCO by 10.6% in the third quarter. Bridgewater Advisors Inc. now owns 4,872 shares of the basic materials company’s stock valued at $258,000 after purchasing an additional 466 shares in the last quarter. AQR Capital Management LLC lifted its stake in POSCO by 8.3% in the 1st quarter. AQR Capital Management LLC now owns 6,462 shares of the basic materials company’s stock valued at $307,000 after buying an additional 495 shares in the last quarter. Cibc World Market Inc. grew its holdings in POSCO by 1.2% during the 3rd quarter. Cibc World Market Inc. now owns 45,520 shares of the basic materials company’s stock valued at $2,240,000 after buying an additional 561 shares during the last quarter. US Bancorp DE increased its position in POSCO by 4.9% during the third quarter. US Bancorp DE now owns 12,830 shares of the basic materials company’s stock worth $631,000 after buying an additional 600 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of POSCO by 3.9% in the third quarter. Signaturefd LLC now owns 16,139 shares of the basic materials company’s stock valued at $794,000 after acquiring an additional 603 shares in the last quarter.

POSCO Trading Down 0.9%

PKX stock opened at $59.65 on Wednesday. POSCO has a 52 week low of $40.80 and a 52 week high of $71.35. The company has a market cap of $18.10 billion, a price-to-earnings ratio of 45.19, a PEG ratio of 0.33 and a beta of 1.43. The company has a quick ratio of 1.29, a current ratio of 1.88 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $61.31 and a 200-day simple moving average of $55.45.

POSCO (NYSE:PKX) last announced its quarterly earnings results on Thursday, January 29th. The basic materials company reported ($0.61) EPS for the quarter, missing the consensus estimate of $0.45 by ($1.06). POSCO had a return on equity of 1.09% and a net margin of 0.97%.The firm had revenue of $10.61 billion for the quarter, compared to analyst estimates of $11.85 billion. On average, equities research analysts expect that POSCO will post 3.74 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated 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 assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

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.