Raymond James Financial Services Advisors Inc. boosted its holdings in POSCO (NYSE:PKX) by 91.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,814 shares of the basic materials company’s stock after purchasing an additional 3,261 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in POSCO were worth $426,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Brandes Investment Partners LP raised its stake in POSCO by 1.8% in the 2nd quarter. Brandes Investment Partners LP now owns 936,469 shares of the basic materials company’s stock worth $58,614,000 after purchasing an additional 16,819 shares in the last quarter. Vanguard Group Inc. raised its stake in POSCO by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 717,651 shares of the basic materials company’s stock worth $44,918,000 after purchasing an additional 23,884 shares in the last quarter. Northern Trust Corp raised its stake in POSCO by 12.2% in the 2nd quarter. Northern Trust Corp now owns 643,169 shares of the basic materials company’s stock worth $40,256,000 after purchasing an additional 69,983 shares in the last quarter. State Street Corp raised its stake in POSCO by 6.8% in the 2nd quarter. State Street Corp now owns 465,450 shares of the basic materials company’s stock worth $29,131,000 after purchasing an additional 29,780 shares in the last quarter. Finally, LMR Partners LLP raised its stake in POSCO by 57.0% in the 2nd quarter. LMR Partners LLP now owns 387,825 shares of the basic materials company’s stock worth $24,321,000 after purchasing an additional 140,787 shares in the last quarter. Institutional investors and hedge funds own 5.15% of the company’s stock.

POSCO (NYSE PKX) opened at $72.49 on Friday. The company has a market cap of $23,195.93, a P/E ratio of 12.99, a PEG ratio of 1.73 and a beta of 1.12. The company has a quick ratio of 1.06, a current ratio of 1.58 and a debt-to-equity ratio of 0.24. POSCO has a 12-month low of $50.37 and a 12-month high of $77.76.

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Several analysts have weighed in on the stock. Zacks Investment Research upgraded shares of POSCO from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Wednesday, October 18th. BidaskClub upgraded shares of POSCO from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. CLSA upgraded shares of POSCO from an “underperform” rating to an “outperform” rating in a research note on Thursday, July 20th. Finally, Standpoint Research cut shares of POSCO from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. POSCO currently has an average rating of “Buy” and an average price target of $82.00.

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.

Institutional Ownership by Quarter for POSCO (NYSE:PKX)

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