POSCO (NYSE:PKX) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of POSCO (NYSE:PKX) from a buy rating to a hold rating in a research report report published on Thursday.

POSCO Stock Up 3.9 %

Shares of NYSE:PKX opened at $44.24 on Thursday. The firm has a fifty day moving average price of $50.83 and a two-hundred day moving average price of $60.42. The company has a market cap of $13.43 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 0.58 and a beta of 1.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.03 and a quick ratio of 1.45. POSCO has a one year low of $42.35 and a one year high of $92.42.

Hedge Funds Weigh In On POSCO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Athos Capital Ltd bought a new position in shares of POSCO in the 3rd quarter worth $11,373,000. Maven Securities LTD purchased a new stake in POSCO during the third quarter valued at about $10,191,000. Jane Street Group LLC lifted its stake in POSCO by 2,229.6% during the third quarter. Jane Street Group LLC now owns 80,160 shares of the basic materials company’s stock worth $5,610,000 after purchasing an additional 76,719 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of POSCO by 32.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 253,054 shares of the basic materials company’s stock worth $17,711,000 after purchasing an additional 61,528 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of POSCO during the 3rd quarter valued at about $3,497,000.

About POSCO

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.