ClariVest Asset Management LLC increased its stake in shares of Posco (NYSE:PKX) by 1,813.2% during the second quarter, Holdings Channel reports. The institutional investor owned 130,100 shares of the company’s stock after buying an additional 123,300 shares during the period. ClariVest Asset Management LLC’s holdings in Posco were worth $5,790,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Willis Investment Counsel raised its position in Posco by 0.5% in the first quarter. Willis Investment Counsel now owns 46,470 shares of the company’s stock valued at $2,199,000 after buying an additional 220 shares in the last quarter. Ngam Advisors L.P. raised its position in Posco by 11.0% in the first quarter. Ngam Advisors L.P. now owns 22,205 shares of the company’s stock valued at $1,051,000 after buying an additional 2,195 shares in the last quarter. CIBC World Markets Inc. raised its position in Posco by 5.0% in the second quarter. CIBC World Markets Inc. now owns 136,392 shares of the company’s stock valued at $6,069,000 after buying an additional 6,522 shares in the last quarter. A.R.T. Advisors LLC bought a new position in Posco during the first quarter valued at $497,000. Finally, Bank of Montreal Can bought a new position in Posco during the second quarter valued at $621,000. Hedge funds and other institutional investors own 6.09% of the company’s stock.
Shares of Posco (NYSE:PKX) traded down 1.36% on Friday, hitting $50.93. 236,079 shares of the stock traded hands. The firm’s 50 day moving average is $50.40 and its 200 day moving average is $48.08. The firm has a market capitalization of $16.28 billion, a PE ratio of 74.84 and a beta of 1.15. Posco has a 52 week low of $30.97 and a 52 week high of $55.60.
Several research firms have weighed in on PKX. Credit Agricole SA upgraded shares of Posco from a “sell” rating to an “underperform” rating in a research note on Monday, June 27th. Macquarie upgraded shares of Posco from a “neutral” rating to an “outperform” rating in a research note on Thursday, July 21st. Finally, Zacks Investment Research upgraded shares of Posco from a “sell” rating to a “hold” rating in a research note on Tuesday, September 20th. Two 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’s stock. Posco presently 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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