POSCO (NYSE:PKX) Shares Gap Up – Here’s What Happened

POSCO (NYSE:PKX) gapped up prior to trading on Tuesday . The stock had previously closed at $53.80, but opened at $59.20. POSCO shares last traded at $60.3550, with a volume of 126,586 shares.

Analyst Ratings Changes

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

POSCO Trading Down 0.7%

The company’s 50 day moving average price is $53.61 and its 200 day moving average price is $53.38. The firm has a market cap of $18.04 billion, a PE ratio of 79.74, a price-to-earnings-growth ratio of 0.32 and a beta of 1.49. 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 issued its quarterly earnings data on Monday, October 27th. The basic materials company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The company had revenue of $12.29 billion during the quarter, compared to analysts’ expectations of $12.41 billion. POSCO had a return on equity of 0.74% and a net margin of 0.64%. As a group, analysts forecast that POSCO will post 3.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PKX. Frank Rimerman Advisors LLC lifted its holdings in shares of POSCO by 156.9% in the fourth quarter. Frank Rimerman Advisors LLC now owns 22,300 shares of the basic materials company’s stock valued at $1,187,000 after buying an additional 13,620 shares during the period. Tuttle Capital Management LLC acquired a new stake in shares of POSCO during the fourth quarter worth approximately $475,000. Allworth Financial LP increased its stake in shares of POSCO by 51.6% in the third quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 232 shares during the last quarter. Mariner LLC raised its stake in shares of POSCO by 13.4% during the 3rd quarter. Mariner LLC now owns 14,537 shares of the basic materials company’s stock worth $715,000 after purchasing an additional 1,718 shares in the last quarter. Finally, Citadel Advisors LLC lifted its stake in POSCO by 1,456.8% in the third quarter. Citadel Advisors LLC now owns 59,453 shares of the basic materials company’s stock valued at $2,926,000 after acquiring an additional 63,835 shares during the last quarter.

About POSCO

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.