POSCO (NYSE:PKX) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of POSCO (NYSE:PKX) from a buy rating to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

PKX has been the topic of several other reports. Weiss Ratings downgraded shares of POSCO from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 9th. Zacks Research raised shares of POSCO from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

POSCO Stock Up 1.2%

PKX stock opened at $49.48 on Friday. POSCO has a 1-year low of $48.20 and a 1-year high of $92.40. The business’s 50 day simple moving average is $56.42 and its 200 day simple moving average is $60.86. The company has a current ratio of 1.98, a quick ratio of 1.37 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $14.97 billion, a PE ratio of 22.83 and a beta of 1.75.

Hedge Funds Weigh In On POSCO

Several institutional investors and hedge funds have recently made changes to their positions in the company. Barometer Capital Management Inc. acquired a new stake in shares of POSCO during the first quarter worth $1,392,000. Nykredit A S bought a new stake in shares of POSCO in the second quarter valued at about $13,269,000. Quantinno Capital Management LP grew its stake in shares of POSCO by 82.7% in the first quarter. Quantinno Capital Management LP now owns 200,529 shares of the basic materials company’s stock valued at $11,729,000 after acquiring an additional 90,777 shares in the last quarter. Bank of America Corp DE grew its stake in shares of POSCO by 96.2% in the first quarter. Bank of America Corp DE now owns 109,074 shares of the basic materials company’s stock valued at $6,380,000 after acquiring an additional 53,469 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in POSCO by 58.3% during the first quarter. Sequoia Financial Advisors LLC now owns 37,608 shares of the basic materials company’s stock worth $2,200,000 after acquiring an additional 13,851 shares during the period.

About POSCO

POSCO, now organized under POSCO Holdings Inc, is a South Korean steel and materials group. Its principal steelmaking business produces a range of products, including hot- and cold-rolled steel, stainless steel, plates, wire rod and electrical steel.

POSCO steel products serve industries such as automotive, construction, shipbuilding, energy and manufacturing. The company operates internationally, supplying customers in South Korea and overseas through its production facilities and global sales network.

Founded in 1968, POSCO developed integrated steelworks in Pohang and Gwangyang, South Korea.