POSCO (NYSE:PKX) Upgraded to Buy by StockNews.com

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

POSCO Trading Down 1.7 %

Shares of PKX opened at $60.02 on Friday. POSCO has a 1-year low of $58.00 and a 1-year high of $98.00. The company has a market capitalization of $18.22 billion, a P/E ratio of 18.64, a P/E/G ratio of 0.46 and a beta of 1.42. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.03 and a quick ratio of 1.45. The firm’s 50 day simple moving average is $65.89 and its 200 day simple moving average is $67.58.

POSCO (NYSE:PKX) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.14 earnings per share for the quarter. POSCO had a net margin of 1.91% and a return on equity of 2.27%. The firm had revenue of $13.50 billion for the quarter. Sell-side analysts forecast that POSCO will post 4.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On POSCO

Several hedge funds have recently added to or reduced their stakes in PKX. Altrius Capital Management Inc raised its holdings in shares of POSCO by 16.8% during the 2nd quarter. Altrius Capital Management Inc now owns 105,665 shares of the basic materials company’s stock valued at $6,946,000 after buying an additional 15,174 shares in the last quarter. Van ECK Associates Corp grew its position in POSCO by 8.3% during the second quarter. Van ECK Associates Corp now owns 84,420 shares of the basic materials company’s stock valued at $5,550,000 after acquiring an additional 6,440 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of POSCO by 917.1% during the first quarter. BNP Paribas Financial Markets now owns 61,565 shares of the basic materials company’s stock worth $4,828,000 after acquiring an additional 55,512 shares in the last quarter. Creative Planning raised its stake in shares of POSCO by 36.8% during the third quarter. Creative Planning now owns 53,801 shares of the basic materials company’s stock worth $3,766,000 after acquiring an additional 14,485 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of POSCO by 15.6% in the 2nd quarter. Marshall Wace LLP now owns 39,337 shares of the basic materials company’s stock worth $2,586,000 after acquiring an additional 5,295 shares during 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.