POSCO (NYSE:PKX) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of POSCO (NYSE:PKX) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

POSCO Trading Down 2.9 %

PKX stock opened at $53.83 on Tuesday. POSCO has a 12 month low of $53.63 and a 12 month high of $96.98. The firm’s 50-day moving average is $65.12 and its 200 day moving average is $66.55. The company has a market capitalization of $16.34 billion, a PE ratio of 18.89, a P/E/G ratio of 0.69 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PKX. Quantbot Technologies LP grew its position in shares of POSCO by 1,788.4% during the 1st quarter. Quantbot Technologies LP now owns 2,927 shares of the basic materials company’s stock worth $230,000 after buying an additional 2,772 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of POSCO during the first quarter valued at approximately $27,000. Bayesian Capital Management LP raised its stake in POSCO by 23.7% in the first quarter. Bayesian Capital Management LP now owns 3,136 shares of the basic materials company’s stock worth $246,000 after buying an additional 600 shares in the last quarter. Confluence Investment Management LLC boosted its position in POSCO by 3.0% during the 2nd quarter. Confluence Investment Management LLC now owns 6,420 shares of the basic materials company’s stock valued at $422,000 after acquiring an additional 185 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of POSCO by 22.9% in the 2nd quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock valued at $132,000 after acquiring an additional 373 shares during the period.

POSCO Company Profile

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.