POSCO (NYSE:PKX) Stock Rating Upgraded by StockNews.com

POSCO (NYSE:PKX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

POSCO Stock Performance

Shares of PKX opened at $51.57 on Tuesday. The company has a market capitalization of $15.65 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 0.67 and a beta of 1.44. 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 $51.56 and a one year high of $96.98. The company’s fifty day moving average price is $64.90 and its 200 day moving average price is $66.43.

Institutional Trading of POSCO

Several hedge funds have recently added to or reduced their stakes in PKX. BNP Paribas Financial Markets lifted its holdings in shares of POSCO by 32.1% during the third quarter. BNP Paribas Financial Markets now owns 253,054 shares of the basic materials company’s stock worth $17,711,000 after buying an additional 61,528 shares during the last quarter. Seven Grand Managers LLC bought a new position in POSCO during the third quarter worth $1,750,000. Frank Rimerman Advisors LLC acquired a new position in POSCO during the 2nd quarter valued at $1,540,000. Altrius Capital Management Inc boosted its holdings in POSCO by 15.9% in the 3rd quarter. Altrius Capital Management Inc now owns 122,467 shares of the basic materials company’s stock valued at $8,571,000 after purchasing an additional 16,802 shares during the period. Finally, Creative Planning grew its position in POSCO by 36.8% in the 3rd quarter. Creative Planning now owns 53,801 shares of the basic materials company’s stock worth $3,766,000 after purchasing an additional 14,485 shares during the last quarter.

About POSCO

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.