PNC Financial Services Group Inc. Has $685,000 Stock Holdings in POSCO $PKX

PNC Financial Services Group Inc. boosted its position in POSCO (NYSE:PKX) by 31.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,135 shares of the basic materials company’s stock after acquiring an additional 3,387 shares during the quarter. PNC Financial Services Group Inc.’s holdings in POSCO were worth $685,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PKX. Nomura Holdings Inc. acquired a new stake in shares of POSCO in the 1st quarter valued at $7,814,000. Goldman Sachs Group Inc. lifted its position in shares of POSCO by 57.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 423,253 shares of the basic materials company’s stock worth $20,117,000 after buying an additional 154,100 shares during the last quarter. American Century Companies Inc. lifted its position in shares of POSCO by 9.0% during the 1st quarter. American Century Companies Inc. now owns 402,760 shares of the basic materials company’s stock worth $19,143,000 after buying an additional 33,366 shares during the last quarter. Nuveen LLC acquired a new stake in POSCO in the first quarter valued at about $1,090,000. Finally, Yousif Capital Management LLC grew its position in POSCO by 442.0% in the second quarter. Yousif Capital Management LLC now owns 27,683 shares of the basic materials company’s stock valued at $1,342,000 after acquiring an additional 22,575 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PKX. Weiss Ratings reissued a “sell (d+)” rating on shares of POSCO in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of POSCO from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, UBS Group raised shares of POSCO from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold”.

POSCO Stock Down 0.8%

NYSE:PKX opened at $53.50 on Friday. POSCO has a one year low of $39.40 and a one year high of $61.24. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.96 and a quick ratio of 1.41. The company has a market cap of $16.24 billion, a PE ratio of 72.29, a P/E/G ratio of 0.41 and a beta of 1.52. The firm’s 50 day simple moving average is $51.80 and its 200 day simple moving average is $51.44.

POSCO (NYSE:PKX) last announced its quarterly earnings results on Monday, October 27th. The basic materials company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04. The firm had revenue of $12.06 billion during the quarter, compared to analysts’ expectations of $12.41 billion. POSCO had a net margin of 0.64% and a return on equity of 0.74%. On average, research analysts anticipate that POSCO will post 3.74 earnings per share for the current year.

About POSCO

POSCO Holdings Inc, together with its subsidiaries, operates as an integrated steel producer in Korea and internationally. It operates through six segments: Steel, Trading, Construction, Logistics and Others, Green Materials and Energy, and Others. The company engages in the production, import, sale, and export of steel products, such as hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets, as well as pig iron, billets, blooms, and slabs; trading of steel and raw materials, textiles, agricultural commodities, and other goods; natural resources development and power generation activities; and planning, designing, and construction of industrial plants, civil engineering projects, and commercial and residential buildings.