POSCO $PKX Stock: Quadrant Capital Group LLC Cuts Position

Quadrant Capital Group LLC decreased its position in shares of POSCO (NYSE:PKX) by 10.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 77,131 shares of the basic materials company’s stock after selling 8,900 shares during the period. Quadrant Capital Group LLC’s holdings in POSCO were worth $4,318,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Mather Group LLC. boosted its holdings in POSCO by 3,766.7% during the 3rd quarter. Mather Group LLC. now owns 1,392 shares of the basic materials company’s stock valued at $79,000 after acquiring an additional 1,356 shares during the period. Keybank National Association OH purchased a new stake in POSCO during the first quarter worth about $200,000. QRG Capital Management Inc. purchased a new stake in POSCO during the first quarter worth about $219,000. Allspring Global Investments Holdings LLC purchased a new stake in POSCO during the first quarter worth about $222,000. Finally, MW Advisory LLC acquired a new stake in shares of POSCO during the second quarter worth about $214,000.

POSCO Price Performance

PKX stock opened at $56.25 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.98 and a quick ratio of 1.37. The firm has a market capitalization of $17.01 billion, a P/E ratio of 21.74 and a beta of 1.64. The business’s 50-day moving average is $58.58 and its two-hundred day moving average is $61.49. POSCO has a 1 year low of $48.50 and a 1 year high of $92.40.

POSCO (NYSE:PKX) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.45. POSCO had a return on equity of 1.99% and a net margin of 1.79%. The business had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $11.96 billion. Analysts anticipate that POSCO will post 4.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wall Street Zen raised shares of POSCO from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Zacks Research cut shares of POSCO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Finally, Weiss Ratings downgraded shares of POSCO from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold”.

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.