Shares of POSCO (NYSE:PKX – Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $58.43, but opened at $61.27. POSCO shares last traded at $60.8050, with a volume of 59,156 shares trading hands.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on PKX. Zacks Research upgraded shares of POSCO from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Weiss Ratings downgraded shares of POSCO from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 18th. Finally, Wall Street Zen raised shares of POSCO from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.
Read Our Latest Research Report on POSCO
POSCO Stock Performance
POSCO (NYSE:PKX – Get Free Report) last issued its earnings results on Thursday, July 30th. The basic materials company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.45. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $11.96 billion. POSCO had a net margin of 1.79% and a return on equity of 2.00%. As a group, equities research analysts forecast that POSCO will post 4.91 earnings per share for the current fiscal year.
Institutional Investors Weigh In On POSCO
Large investors have recently added to or reduced their stakes in the stock. Xponance LLC increased its position in shares of POSCO by 4.3% during the fourth quarter. Xponance LLC now owns 4,433 shares of the basic materials company’s stock worth $236,000 after acquiring an additional 181 shares during the period. Parallel Advisors LLC raised its stake in shares of POSCO by 4.5% during the third quarter. Parallel Advisors LLC now owns 4,863 shares of the basic materials company’s stock valued at $239,000 after acquiring an additional 211 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of POSCO by 51.6% in the third quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 232 shares during the period. Brooklyn Investment Group boosted its holdings in shares of POSCO by 5.3% in the fourth quarter. Brooklyn Investment Group now owns 5,636 shares of the basic materials company’s stock valued at $306,000 after purchasing an additional 285 shares during the period. Finally, CWM LLC grew its stake in POSCO by 17.6% in the fourth quarter. CWM LLC now owns 2,946 shares of the basic materials company’s stock worth $157,000 after purchasing an additional 440 shares in the last quarter.
About POSCO
POSCO (NYSE: PKX) is a South Korea–based integrated steel producer founded in 1968 as Pohang Iron and Steel Company. Headquartered in Pohang, the company grew rapidly as part of South Korea’s industrialization program and developed large, integrated steelworks—most notably in Pohang and Gwangyang—that helped establish POSCO among the world’s largest steelmakers. It is structured as a diversified industrial group with steelmaking at its core and a range of downstream and trading businesses.
The company’s primary activities include ironmaking and steelmaking, producing a wide array of steel products such as hot-rolled and cold-rolled sheets, coated steels, plates, stainless and special steels, long products (bars and wire rods), and seamless pipes.
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