POSCO (NYSE:PKX) Raised to Buy at StockNews.com

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

POSCO Price Performance

PKX opened at $51.57 on Tuesday. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.27. POSCO has a 1 year low of $51.56 and a 1 year high of $96.98. The stock has a fifty day moving average price of $64.90 and a 200 day moving average price of $66.43. The stock has a market cap of $15.65 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 0.67 and a beta of 1.44.

Hedge Funds Weigh In On POSCO

A number of hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in POSCO in the first quarter worth approximately $27,000. Allspring Global Investments Holdings LLC bought a new stake in POSCO in the third quarter worth $49,000. GAMMA Investing LLC boosted its holdings in POSCO by 138.0% in the third quarter. GAMMA Investing LLC now owns 871 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 505 shares in the last quarter. CWM LLC increased its position in POSCO by 22.9% during the second quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock worth $132,000 after buying an additional 373 shares during the last quarter. Finally, Choreo LLC bought a new position in POSCO during the second quarter valued at about $221,000.

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.