Daily Journal Corp continued to hold its position in POSCO (NYSE:PKX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,745 shares of the basic materials company’s stock at the end of the second quarter. POSCO accounts for about 0.4% of Daily Journal Corp’s holdings, making the stock its 4th largest position. Daily Journal Corp’s holdings in POSCO were worth $610,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE increased its position in POSCO by 10.6% in the first quarter. Bank of America Corp DE now owns 314,202 shares of the basic materials company’s stock worth $20,267,000 after buying an additional 30,009 shares during the period. Comerica Bank boosted its stake in POSCO by 12.1% in the fourth quarter. Comerica Bank now owns 20,400 shares of the basic materials company’s stock worth $1,161,000 after buying an additional 2,202 shares in the last quarter. Jane Street Group LLC boosted its stake in POSCO by 1,544.3% in the first quarter. Jane Street Group LLC now owns 102,853 shares of the basic materials company’s stock worth $6,634,000 after buying an additional 96,598 shares in the last quarter. AQR Capital Management LLC boosted its stake in POSCO by 9.9% in the fourth quarter. AQR Capital Management LLC now owns 9,330 shares of the basic materials company’s stock worth $490,000 after buying an additional 839 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in POSCO during the first quarter worth approximately $386,000. 5.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of POSCO (PKX) traded down 0.78% during midday trading on Tuesday, reaching $75.09. 253,574 shares of the company traded hands. The firm has a market capitalization of $24.03 billion, a PE ratio of 14.79 and a beta of 1.13. The company has a 50-day moving average of $67.34 and a 200 day moving average of $62.24. POSCO has a 12-month low of $47.45 and a 12-month high of $75.72.
A number of analysts recently commented on PKX shares. Standpoint Research cut shares of POSCO from a “buy” rating to a “hold” rating in a research report on Monday. CLSA upgraded POSCO from an “underperform” rating to an “outperform” rating in a report on Thursday, July 20th. BidaskClub upgraded POSCO from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Finally, UBS AG upgraded POSCO from a “neutral” rating to a “buy” rating in a report on Thursday, July 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. POSCO has an average rating of “Buy” and an average target price of $64.00.
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.
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