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

POSCO (NYSE:PKX) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

POSCO Stock Up 0.3 %

PKX stock traded up $0.15 during midday trading on Wednesday, hitting $45.47. The company’s stock had a trading volume of 243,527 shares, compared to its average volume of 169,470. POSCO has a 52-week low of $44.64 and a 52-week high of $96.98. The firm has a 50-day simple moving average of $53.71 and a 200-day simple moving average of $61.69. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $13.80 billion, a P/E ratio of 15.95, a PEG ratio of 0.58 and a beta of 1.38.

Institutional Investors Weigh In On POSCO

Hedge funds have recently bought and sold shares of the stock. State Street Corp lifted 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 last quarter. BNP Paribas Financial Markets boosted its position in shares of POSCO by 32.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 253,054 shares of the basic materials company’s stock worth $17,711,000 after acquiring an additional 61,528 shares in the last quarter. Athos Capital Ltd purchased a new position in shares of POSCO in the 3rd quarter valued at about $11,373,000. Maven Securities LTD acquired a new stake in shares of POSCO during the 3rd quarter worth about $10,191,000. Finally, Altrius Capital Management Inc lifted its stake in POSCO by 15.9% during the third quarter. Altrius Capital Management Inc now owns 122,467 shares of the basic materials company’s stock worth $8,571,000 after purchasing an additional 16,802 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.