POSCO (NYSE:PKX) Cut to Hold at StockNews.com

StockNews.com lowered shares of POSCO (NYSE:PKX) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

POSCO Trading Down 0.3 %

Shares of PKX stock opened at $54.25 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 0.27. POSCO has a fifty-two week low of $49.37 and a fifty-two week high of $96.98. The firm’s 50 day moving average price is $63.07 and its two-hundred day moving average price is $65.29. The stock has a market cap of $16.47 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 0.67 and a beta of 1.44.

Institutional Trading of POSCO

Hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new position in POSCO in the 3rd quarter worth $2,082,000. Jane Street Group LLC grew its holdings in shares of POSCO by 2,229.6% during the third quarter. Jane Street Group LLC now owns 80,160 shares of the basic materials company’s stock valued at $5,610,000 after purchasing an additional 76,719 shares during the last quarter. State Street Corp raised its position in shares of POSCO by 1.6% during the 3rd quarter. State Street Corp now owns 781,503 shares of the basic materials company’s stock worth $54,697,000 after purchasing an additional 12,193 shares during the period. Quantinno Capital Management LP grew its stake in POSCO by 73.2% during the 3rd quarter. Quantinno Capital Management LP now owns 16,792 shares of the basic materials company’s stock worth $1,175,000 after buying an additional 7,095 shares during the last quarter. Finally, Recurrent Investment Advisors LLC boosted its holdings in shares of POSCO by 46.1% during the third quarter. Recurrent Investment Advisors LLC now owns 14,002 shares of the basic materials company’s stock valued at $980,000 after acquiring an additional 4,415 shares during the period.

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.