Crossmark Global Holdings Inc. Cuts Holdings in POSCO (PKX)
Crossmark Global Holdings Inc. cut its holdings in shares of POSCO (NYSE:PKX) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,333 shares of the basic materials company’s stock after selling 1,960 shares during the period. Crossmark Global Holdings Inc.’s holdings in POSCO were worth $2,448,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in PKX. Capital Growth Management LP acquired a new position in POSCO during the 3rd quarter valued at about $29,148,000. Assetmark Inc. increased its stake in shares of POSCO by 164,689.9% in the 3rd quarter. Assetmark Inc. now owns 163,142 shares of the basic materials company’s stock valued at $11,322,000 after acquiring an additional 163,043 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of POSCO in the 3rd quarter valued at about $4,268,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of POSCO in the 3rd quarter valued at about $3,174,000. Finally, State Street Corp increased its stake in shares of POSCO by 6.8% in the 2nd quarter. State Street Corp now owns 465,450 shares of the basic materials company’s stock valued at $29,131,000 after acquiring an additional 29,780 shares during the last quarter. Institutional investors own 5.37% of the company’s stock.
Shares of POSCO (PKX) opened at $81.47 on Monday. POSCO has a 52 week low of $56.48 and a 52 week high of $93.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.14 and a current ratio of 1.68. The stock has a market capitalization of $26,069.42, a P/E ratio of 12.52, a P/E/G ratio of 1.69 and a beta of 1.27.
PKX has been the subject of a number of recent analyst reports. Deutsche Bank raised POSCO from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. Goldman Sachs Group raised POSCO from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. ValuEngine cut POSCO from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. Finally, Zacks Investment Research raised POSCO from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research note on Monday, January 15th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. POSCO has a consensus rating of “Buy” and a consensus target price of $98.00.
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POSCO is a Korea-based company principally engaged in the manufacture and distribution of steel products. The Company operates in four segments: steel, trading, construction, and others. The steel segment includes production of steel products and sale of such products. The trading segment consists of global trading activities of POSCO Daewoo Corporation, exporting and importing a range of steel products that are both obtained from and supplied to it, as well as between other suppliers and purchasers in Korea and overseas.
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