Separately, JPMorgan Chase & Co. lowered POSCO from an overweight rating to a neutral rating in a research report on Monday, October 24th.
POSCO Stock Up 0.4 %
Shares of NYSE:PKX opened at $54.55 on Monday. The firm has a market cap of $16.50 billion, a P/E ratio of 3.99 and a beta of 1.12. The company has a quick ratio of 1.33, a current ratio of 2.02 and a debt-to-equity ratio of 0.21. POSCO has a 12-month low of $36.53 and a 12-month high of $65.11. The business has a fifty day simple moving average of $44.65 and a 200 day simple moving average of $47.36.
POSCO Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Thursday, June 30th were given a $0.612 dividend. This represents a $2.45 annualized dividend and a dividend yield of 4.49%. The ex-dividend date was Wednesday, June 29th. POSCO’s dividend payout ratio (DPR) is presently 17.92%.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of POSCO by 17.7% in the 1st quarter. BlackRock Inc. now owns 1,395,026 shares of the basic materials company’s stock worth $82,683,000 after acquiring an additional 210,190 shares in the last quarter. State Street Corp raised its position in shares of POSCO by 2.1% in the 3rd quarter. State Street Corp now owns 841,473 shares of the basic materials company’s stock worth $30,806,000 after acquiring an additional 17,080 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of POSCO by 21.1% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 584,063 shares of the basic materials company’s stock worth $21,383,000 after acquiring an additional 101,900 shares in the last quarter. RWWM Inc. grew its stake in shares of POSCO by 412.6% in the 3rd quarter. RWWM Inc. now owns 569,113 shares of the basic materials company’s stock valued at $20,835,000 after buying an additional 458,086 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of POSCO by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 371,615 shares of the basic materials company’s stock valued at $22,026,000 after buying an additional 10,142 shares during the period. 3.56% of the stock is owned by institutional investors.
POSCO Company Profile
POSCO Holdings Inc, together with its subsidiaries, manufactures and sells steel rolled products and plates in South Korea and internationally. It operates through four segments: Steel, Construction, Trading, and Others. The company offers hot and cold rolled steel, steel plates, wire rods, galvanized sheets, electrical steel, stainless steel, and titanium.
- Get a free copy of the StockNews.com research report on POSCO (PKX)
- Institutional Support for Analog Devices Remains High
- Is the 60/40 Portfolio Mix Still in Vogue?
- Three CBD Stocks to Dominate a Budding Industry
- Microsoft Shares: Is it Time to Back Up the Truck?
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
Receive News & Ratings for POSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for POSCO and related companies with MarketBeat.com's FREE daily email newsletter.