POSCO (NYSE:PKX) Hits New 12-Month High – Time to Buy?

POSCO (NYSE:PKX) shares hit a new 52-week high on Friday . The stock traded as high as $69.00 and last traded at $68.83, with a volume of 107796 shares traded. The stock had previously closed at $67.13.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of POSCO in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, POSCO currently has an average rating of “Hold”.

POSCO Trading Up 2.6%

The business’s fifty day moving average price is $58.51 and its two-hundred day moving average price is $54.59. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.96 and a quick ratio of 1.38.

POSCO (NYSE:PKX) last posted its earnings results on Thursday, January 29th. The basic materials company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($1.06). POSCO had a net margin of 0.97% and a return on equity of 1.09%. The firm had revenue of $10.61 billion for the quarter, compared to analysts’ expectations of $11.85 billion. As a group, equities research analysts forecast that POSCO will post 3.74 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in POSCO in the fourth quarter worth about $25,000. Founders Capital Management boosted its stake in POSCO by 100.0% in the 3rd quarter. Founders Capital Management now owns 600 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 300 shares in the last quarter. Allworth Financial LP grew its position in POSCO by 51.6% during the 3rd quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 232 shares during the last quarter. Headlands Technologies LLC increased its stake in POSCO by 1,276.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,432 shares of the basic materials company’s stock valued at $69,000 after purchasing an additional 1,328 shares in the last quarter. Finally, MAI Capital Management purchased a new position in shares of POSCO in the second quarter worth $73,000.

POSCO Company Profile

POSCO (NYSE: PKX) is a South Korea–based integrated steel producer founded in 1968 as Pohang Iron and Steel Company. Headquartered in Pohang, the company grew rapidly as part of South Korea’s industrialization program and developed large, integrated steelworks—most notably in Pohang and Gwangyang—that helped establish POSCO among the world’s largest steelmakers. It is structured as a diversified industrial group with steelmaking at its core and a range of downstream and trading businesses.

The company’s primary activities include ironmaking and steelmaking, producing a wide array of steel products such as hot-rolled and cold-rolled sheets, coated steels, plates, stainless and special steels, long products (bars and wire rods), and seamless pipes.