POSCO (NYSE:PKX) Downgraded by StockNews.com to Hold

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

POSCO Stock Down 0.3 %

Shares of PKX opened at $54.25 on Wednesday. The company’s 50-day simple moving average is $63.07 and its 200-day simple moving average is $65.36. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.45 and a current ratio of 2.03. POSCO has a 1 year low of $49.37 and a 1 year high of $96.98. The stock has a market capitalization of $16.47 billion, a PE ratio of 19.04, a P/E/G ratio of 0.65 and a beta of 1.44.

Hedge Funds Weigh In On POSCO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PKX. Athos Capital Ltd acquired a new stake in shares of POSCO in the third quarter valued at $11,373,000. Maven Securities LTD acquired a new stake in POSCO in the 3rd quarter valued at about $10,191,000. Jane Street Group LLC raised its position in POSCO by 2,229.6% in the 3rd quarter. Jane Street Group LLC now owns 80,160 shares of the basic materials company’s stock valued at $5,610,000 after purchasing an additional 76,719 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of POSCO by 32.1% during the third quarter. BNP Paribas Financial Markets now owns 253,054 shares of the basic materials company’s stock worth $17,711,000 after buying an additional 61,528 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in shares of POSCO during the third quarter worth approximately $3,497,000.

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.