Advisors Asset Management Inc. increased its position in Posco (NYSE:PKX) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 6,447 shares of the company’s stock after buying an additional 49 shares during the period. Advisors Asset Management Inc.’s holdings in Posco were worth $287,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of PKX. Princeton Alpha Management LP bought a new stake in shares of Posco during the second quarter worth $250,000. First Trust Advisors LP bought a new stake in shares of Posco during the second quarter worth $379,000. A.R.T. Advisors LLC bought a new stake in shares of Posco during the first quarter worth $497,000. Commerzbank Aktiengesellschaft FI raised its stake in shares of Posco by 2.2% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 11,951 shares of the company’s stock worth $532,000 after buying an additional 261 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in Posco during the second quarter worth approximately $621,000. 6.09% of the stock is owned by institutional investors.
Posco (NYSE:PKX) traded down 0.60% during midday trading on Friday, hitting $51.08. 294,421 shares of the stock were exchanged. The firm has a market capitalization of $16.33 billion, a price-to-earnings ratio of 74.65 and a beta of 1.28. The company has a 50 day moving average price of $50.24 and a 200 day moving average price of $47.91. Posco has a one year low of $30.97 and a one year high of $55.60.
PKX has been the topic of a number of research reports. Credit Agricole SA upgraded shares of Posco from a “sell” rating to an “underperform” rating in a report on Monday, June 27th. Zacks Investment Research upgraded shares of Posco from a “sell” rating to a “hold” rating in a report on Tuesday, September 20th. Finally, Macquarie upgraded shares of Posco from a “neutral” rating to an “outperform” rating in a report on Thursday, July 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Posco has a consensus rating of “Hold”.
Posco Company Profile
POSCO is an integrated steel producer. The Company operates in four segments: steel segment, trading segment, construction segment and others segment. The steel segment includes production of steel products and sale of such products. The trading segment consists of global trading activities of Daewoo International, exporting and importing a range of steel products that are both obtained from and supplied to POSCO, as well as between other suppliers and purchasers in Korea and overseas.
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