POSCO (NYSE:PKX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of POSCO (NYSE:PKX) from a hold rating to a buy rating in a research note released on Friday morning.

POSCO Stock Up 4.4 %

Shares of PKX stock opened at $62.68 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.03 and a quick ratio of 1.45. POSCO has a one year low of $58.00 and a one year high of $98.00. The company’s fifty day moving average price is $65.90 and its 200-day moving average price is $67.30. The company has a market capitalization of $19.02 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 0.45 and a beta of 1.42.

Hedge Funds Weigh In On POSCO

Hedge funds have recently made changes to their positions in the business. Ballentine Partners LLC lifted its holdings in POSCO by 9.6% in the 3rd quarter. Ballentine Partners LLC now owns 6,710 shares of the basic materials company’s stock worth $470,000 after purchasing an additional 588 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of POSCO during the third quarter valued at approximately $49,000. Blue Trust Inc. lifted its holdings in shares of POSCO by 152.9% in the third quarter. Blue Trust Inc. now owns 17,250 shares of the basic materials company’s stock worth $1,134,000 after buying an additional 10,428 shares in the last quarter. Seven Grand Managers LLC bought a new position in shares of POSCO during the third quarter worth $1,750,000. Finally, Creative Planning grew its stake in POSCO by 36.8% during the third quarter. Creative Planning now owns 53,801 shares of the basic materials company’s stock valued at $3,766,000 after acquiring an additional 14,485 shares in the last quarter.

POSCO Company Profile

POSCO Holdings Inc, together with its subsidiaries, operates as an integrated steel producer in Korea and internationally. It operates through six segments: Steel, Trading, Construction, Logistics and Others, Green Materials and Energy, and Others. The company engages in the production, import, sale, and export of steel products, such as hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets, as well as pig iron, billets, blooms, and slabs; trading of steel and raw materials, textiles, agricultural commodities, and other goods; natural resources development and power generation activities; and planning, designing, and construction of industrial plants, civil engineering projects, and commercial and residential buildings.