StockNews.com lowered shares of POSCO (NYSE:PKX – Free Report) from a buy rating to a hold rating in a research note published on Friday.
POSCO Price Performance
NYSE:PKX opened at $71.60 on Friday. POSCO has a 52-week low of $67.42 and a 52-week high of $133.09. The business’s fifty day moving average is $78.06 and its 200 day moving average is $84.01. The company has a current ratio of 2.11, a quick ratio of 1.48 and a debt-to-equity ratio of 0.25.
POSCO (NYSE:PKX – Get Free Report) last posted its earnings results on Wednesday, February 21st. The basic materials company reported ($0.52) EPS for the quarter. POSCO had a return on equity of 3.02% and a net margin of 2.45%. The business had revenue of $14.15 billion for the quarter. As a group, equities research analysts forecast that POSCO will post 4.65 earnings per share for the current fiscal year.
POSCO Announces Dividend
Hedge Funds Weigh In On POSCO
Hedge funds and other institutional investors have recently modified their holdings of the company. Citigroup Inc. boosted its holdings in shares of POSCO by 25.9% in the 3rd quarter. Citigroup Inc. now owns 11,564 shares of the basic materials company’s stock worth $1,185,000 after purchasing an additional 2,382 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of POSCO in the 3rd quarter worth about $1,117,000. Ballentine Partners LLC boosted its holdings in shares of POSCO by 29.7% in the 4th quarter. Ballentine Partners LLC now owns 4,625 shares of the basic materials company’s stock worth $440,000 after purchasing an additional 1,060 shares in the last quarter. Inspire Investing LLC purchased a new position in shares of POSCO in the 3rd quarter worth about $640,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of POSCO by 6.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 303,046 shares of the basic materials company’s stock valued at $31,062,000 after acquiring an additional 19,057 shares during the last quarter.
About POSCO
POSCO Holdings Inc, together with its subsidiaries, manufactures and sells iron and steel rolled products in South Korea and internationally. It operates in two segments Steel and Others. The company offers hot and cold rolled steel, steel plates, wire rods, galvanized steel, electrical steel, stainless steel, and titanium.
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