Earnest Partners LLC Has $1.38 Million Stake in POSCO (PKX)
Earnest Partners LLC grew its stake in POSCO (NYSE:PKX) by 0.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,055 shares of the basic materials company’s stock after buying an additional 19 shares during the quarter. Earnest Partners LLC’s holdings in POSCO were worth $1,380,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of PKX. BNP Paribas Arbitrage SA lifted its holdings in shares of POSCO by 39.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,074 shares of the basic materials company’s stock valued at $263,000 after buying an additional 1,147 shares during the period. Comerica Bank lifted its holdings in shares of POSCO by 1.3% in the 1st quarter. Comerica Bank now owns 20,655 shares of the basic materials company’s stock valued at $1,220,000 after buying an additional 255 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in shares of POSCO in the 1st quarter valued at about $229,000. Stifel Financial Corp lifted its holdings in shares of POSCO by 1.2% in the 1st quarter. Stifel Financial Corp now owns 14,359 shares of the basic materials company’s stock valued at $926,000 after buying an additional 169 shares during the period. Finally, Alliancebernstein L.P. acquired a new position in shares of POSCO in the 1st quarter valued at about $2,362,000. 5.14% of the stock is owned by institutional investors and hedge funds.
Shares of POSCO (NYSE PKX) opened at 69.55 on Wednesday. POSCO has a 1-year low of $49.37 and a 1-year high of $77.76. The stock has a market capitalization of $22.26 billion, a price-to-earnings ratio of 12.37 and a beta of 1.11. The firm’s 50-day moving average price is $72.04 and its 200 day moving average price is $66.13.
PKX has been the subject of several recent analyst reports. Zacks Investment Research lowered POSCO from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Standpoint Research lowered POSCO from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. CLSA upgraded POSCO from an “underperform” rating to an “outperform” rating in a research note on Thursday, July 20th. BidaskClub lowered POSCO from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 12th. Finally, UBS AG upgraded POSCO from a “neutral” rating to a “buy” rating in a research note on Thursday, July 6th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy”.
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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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