POSCO (NYSE:PKX) Sets New 1-Year Low – What’s Next?

Shares of POSCO (NYSE:PKX) hit a new 52-week low during trading on Thursday. The stock traded as low as $48.43 and last traded at $49.38, with a volume of 101,577 shares changing hands. The stock had previously closed at $51.60.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Zacks Research raised shares of POSCO from a “hold” rating to a “strong-buy” rating in a research report on Monday. Wall Street Zen raised POSCO from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Weiss Ratings downgraded POSCO from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, POSCO presently has a consensus rating of “Moderate Buy”.

POSCO Stock Performance

The company’s fifty day moving average is $57.08 and its 200 day moving average is $61.00. The company has a market capitalization of $14.79 billion, a P/E ratio of 21.70 and a beta of 1.75. The company has a current ratio of 1.98, a quick ratio of 1.37 and a debt-to-equity ratio of 0.30.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Nykredit A S purchased a new stake in shares of POSCO during the 2nd quarter valued at $13,269,000. Quantinno Capital Management LP grew its position in POSCO by 82.7% in the first quarter. Quantinno Capital Management LP now owns 200,529 shares of the basic materials company’s stock worth $11,729,000 after acquiring an additional 90,777 shares in the last quarter. Bank of America Corp DE grew its position in POSCO by 96.2% in the first quarter. Bank of America Corp DE now owns 109,074 shares of the basic materials company’s stock worth $6,380,000 after acquiring an additional 53,469 shares in the last quarter. Corient Private Wealth LP grew its position in POSCO by 26.7% in the second quarter. Corient Private Wealth LP now owns 50,761 shares of the basic materials company’s stock worth $2,608,000 after acquiring an additional 10,699 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in POSCO by 28.7% in the second quarter. Sequoia Financial Advisors LLC now owns 48,420 shares of the basic materials company’s stock valued at $2,488,000 after acquiring an additional 10,812 shares during the last quarter.

About POSCO

POSCO is a South Korean steel producer and one of the world’s major integrated steelmakers. The company manufactures a broad range of steel products, including hot- and cold-rolled steel, heavy plate, wire rod, stainless steel, galvanized steel, automotive steel and electrical steel.

POSCO operates large integrated steelworks in Pohang and Gwangyang, South Korea. Its products are used in automobiles, shipbuilding, construction, energy infrastructure, appliances and other industrial applications.