Ramirez Asset Management Inc. Takes $3.14 Million Position in POSCO $PKX

Ramirez Asset Management Inc. bought a new stake in POSCO (NYSE:PKX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 59,024 shares of the basic materials company’s stock, valued at approximately $3,141,000.

A number of other large investors have also recently made changes to their positions in PKX. Founders Capital Management boosted its position in shares of POSCO by 100.0% in the 3rd quarter. Founders Capital Management now owns 600 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 300 shares during the period. Allworth Financial LP boosted its position in shares of POSCO by 51.6% in the 3rd quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 232 shares during the period. Headlands Technologies LLC boosted its position in shares of POSCO by 1,276.9% in 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 during the period. Raymond James Financial Inc. acquired a new stake in shares of POSCO in the 2nd quarter valued at about $95,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of POSCO in the 2nd quarter valued at about $98,000.

Wall Street Analyst Weigh In

PKX has been the subject of a number of research analyst reports. Wall Street Zen raised POSCO from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Zacks Research cut POSCO from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 9th. Weiss Ratings raised POSCO from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, April 22nd. Finally, UBS Group raised POSCO from a “neutral” rating to a “buy” rating in a research report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

POSCO Stock Performance

Shares of PKX stock opened at $61.39 on Friday. The company has a market cap of $18.57 billion, a price-to-earnings ratio of 36.33 and a beta of 1.52. The stock has a 50 day simple moving average of $70.38 and a 200-day simple moving average of $62.43. POSCO has a 12-month low of $44.99 and a 12-month high of $92.40. The company has a current ratio of 1.90, a quick ratio of 1.29 and a debt-to-equity ratio of 0.28.

POSCO (NYSE:PKX) last issued its earnings results on Thursday, April 30th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.12. The business had revenue of $11.88 billion during the quarter, compared to the consensus estimate of $11.75 billion. POSCO had a return on equity of 1.34% and a net margin of 1.19%. On average, equities analysts forecast that POSCO will post 4.56 EPS for the current year.

POSCO 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.