Sequoia Financial Advisors LLC Acquires 13,851 Shares of POSCO $PKX

Sequoia Financial Advisors LLC increased its holdings in POSCO (NYSE:PKX) by 58.3% during the first quarter, HoldingsChannel reports. The fund owned 37,608 shares of the basic materials company’s stock after acquiring an additional 13,851 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in POSCO were worth $2,200,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership acquired a new position in POSCO during the 3rd quarter valued at about $8,851,000. Empowered Funds LLC purchased a new stake in shares of POSCO in the fourth quarter worth approximately $9,223,000. Goldman Sachs Group Inc. raised its stake in shares of POSCO by 57.3% in the first quarter. Goldman Sachs Group Inc. now owns 423,253 shares of the basic materials company’s stock worth $20,117,000 after purchasing an additional 154,100 shares during the last quarter. UBS Group AG lifted its holdings in shares of POSCO by 135.6% in the fourth quarter. UBS Group AG now owns 199,914 shares of the basic materials company’s stock valued at $10,637,000 after purchasing an additional 115,069 shares in the last quarter. Finally, Citadel Advisors LLC boosted its position in shares of POSCO by 1,456.8% during the third quarter. Citadel Advisors LLC now owns 59,453 shares of the basic materials company’s stock valued at $2,926,000 after buying an additional 63,835 shares during the last quarter.

Analyst Upgrades and Downgrades

PKX has been the subject of several recent research reports. Zacks Research upgraded POSCO from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Wall Street Zen cut POSCO from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. UBS Group raised shares of POSCO from a “neutral” rating to a “buy” rating in a report on Monday, April 27th. Finally, Weiss Ratings lowered shares of POSCO from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

POSCO Stock Up 0.8%

PKX stock opened at $51.61 on Wednesday. The stock has a fifty day moving average of $65.25 and a 200-day moving average of $62.96. POSCO has a fifty-two week low of $44.99 and a fifty-two week high of $92.40. The company has a market capitalization of $15.61 billion, a price-to-earnings ratio of 30.54 and a beta of 1.57. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 1.90.

POSCO (NYSE:PKX) last announced its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.12. The business had revenue of $11.88 billion for the quarter, compared to analysts’ expectations of $11.75 billion. POSCO had a return on equity of 1.34% and a net margin of 1.19%. As a group, equities research analysts predict that POSCO will post 4.43 earnings per share for the current year.

POSCO Profile

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.