POSCO (NYSE:PKX) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of POSCO (NYSE:PKX) from a buy rating to a hold rating in a research report released on Wednesday.

POSCO Stock Performance

POSCO stock opened at $54.25 on Wednesday. The firm has a 50 day simple moving average of $63.07 and a 200-day simple moving average of $65.36. The stock has a market cap of $16.47 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.03 and a quick ratio of 1.45. POSCO has a 1-year low of $49.37 and a 1-year high of $96.98.

Institutional Investors Weigh In On POSCO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PKX. Public Employees Retirement System of Ohio purchased a new position in shares of POSCO during the 3rd quarter worth $2,082,000. Jane Street Group LLC boosted its stake in POSCO by 2,229.6% during the third quarter. Jane Street Group LLC now owns 80,160 shares of the basic materials company’s stock worth $5,610,000 after buying an additional 76,719 shares during the period. State Street Corp boosted its stake in POSCO by 1.6% during the third quarter. State Street Corp now owns 781,503 shares of the basic materials company’s stock worth $54,697,000 after buying an additional 12,193 shares during the period. Quantinno Capital Management LP raised its stake in shares of POSCO by 73.2% in the 3rd quarter. Quantinno Capital Management LP now owns 16,792 shares of the basic materials company’s stock valued at $1,175,000 after acquiring an additional 7,095 shares during the period. Finally, Recurrent Investment Advisors LLC lifted its holdings in shares of POSCO by 46.1% in the 3rd quarter. Recurrent Investment Advisors LLC now owns 14,002 shares of the basic materials company’s stock worth $980,000 after acquiring an additional 4,415 shares during the last quarter.

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.