DekaBank Deutsche Girozentrale Sells 5,000 Shares of POSCO (PKX)
DekaBank Deutsche Girozentrale lowered its stake in POSCO (NYSE:PKX) by 9.8% during the second quarter, Holdings Channel reports. The fund owned 46,017 shares of the basic materials company’s stock after selling 5,000 shares during the period. DekaBank Deutsche Girozentrale’s holdings in POSCO were worth $2,824,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Rational Advisors LLC raised its position in POSCO by 100.0% in the first quarter. Rational Advisors LLC now owns 1,800 shares of the basic materials company’s stock valued at $116,000 after buying an additional 900 shares during the last quarter. MAVEN SECURITIES Ltd bought a new position in POSCO during the first quarter valued at about $187,000. Barry Investment Advisors LLC bought a new position in POSCO during the first quarter valued at about $213,000. Raymond James Financial Services Advisors Inc. bought a new position in POSCO during the first quarter valued at about $229,000. Finally, Teza Capital Management LLC bought a new position in POSCO during the first quarter valued at about $237,000. Institutional investors and hedge funds own 5.99% of the company’s stock.
Shares of POSCO (PKX) opened at 72.54 on Friday. POSCO has a 12-month low of $47.45 and a 12-month high of $76.04. The stock has a market cap of $23.21 billion, a PE ratio of 14.28 and a beta of 1.13. The firm has a 50-day moving average price of $70.93 and a 200 day moving average price of $63.32.
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PKX has been the topic of several recent research reports. UBS AG upgraded POSCO from a “neutral” rating to a “buy” rating in a research report on Thursday, July 6th. BidaskClub lowered POSCO from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 12th. Standpoint Research lowered POSCO from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, CLSA upgraded POSCO from an “underperform” rating to an “outperform” rating in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $64.00.
POSCO Company Profile
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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