Posco (NYSE:PKX) was downgraded by analysts at Credit Agricole SA from an “outperform” rating to an “underperform” rating in a report issued on Tuesday, The Fly reports.
A number of other brokerages have also weighed in on PKX. Zacks Investment Research lowered Posco from a “buy” rating to a “hold” rating in a report on Tuesday, June 21st. Macquarie upgraded Posco from a “neutral” rating to an “outperform” rating in a report on Thursday, July 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Posco presently has an average rating of “Hold”.
Posco (NYSE:PKX) opened at 51.06 on Tuesday. Posco has a 12-month low of $30.97 and a 12-month high of $55.60. The company has a market capitalization of $16.33 billion, a PE ratio of 74.62 and a beta of 1.15. The stock has a 50 day moving average of $50.31 and a 200-day moving average of $48.00.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Posco by 2.6% in the second quarter. Vanguard Group Inc. now owns 659,126 shares of the company’s stock valued at $29,331,000 after buying an additional 17,015 shares in the last quarter. UBS Group AG raised its position in Posco by 137.4% in the first quarter. UBS Group AG now owns 519,273 shares of the company’s stock valued at $24,577,000 after buying an additional 300,525 shares in the last quarter. State Street Corp raised its position in Posco by 3.9% in the second quarter. State Street Corp now owns 395,206 shares of the company’s stock valued at $17,587,000 after buying an additional 14,707 shares in the last quarter. JPMorgan Chase & Co. raised its position in Posco by 317.9% in the second quarter. JPMorgan Chase & Co. now owns 298,420 shares of the company’s stock valued at $13,281,000 after buying an additional 227,018 shares in the last quarter. Finally, Causeway Capital Management LLC bought a new position in Posco during the second quarter valued at approximately $9,937,000. Institutional investors and hedge funds own 6.09% of the company’s stock.
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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