Grantham Mayo Van Otterloo & Co. LLC Decreases Holdings in POSCO $PKX

Grantham Mayo Van Otterloo & Co. LLC cut its stake in POSCO (NYSE:PKX) by 16.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 65,277 shares of the basic materials company’s stock after selling 12,561 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in POSCO were worth $3,212,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PKX. American Century Companies Inc. raised its holdings in shares of POSCO by 14.1% during the 3rd quarter. American Century Companies Inc. now owns 549,699 shares of the basic materials company’s stock valued at $27,051,000 after buying an additional 68,104 shares during the period. Xponance Inc. acquired a new stake in POSCO in the third quarter valued at approximately $209,000. West Family Investments Inc. lifted its position in shares of POSCO by 13.2% during the third quarter. West Family Investments Inc. now owns 9,964 shares of the basic materials company’s stock worth $490,000 after purchasing an additional 1,164 shares in the last quarter. US Bancorp DE boosted its stake in shares of POSCO by 4.9% in the third quarter. US Bancorp DE now owns 12,830 shares of the basic materials company’s stock valued at $631,000 after purchasing an additional 600 shares during the period. Finally, Compound Planning Inc. boosted its stake in shares of POSCO by 23.4% in the third quarter. Compound Planning Inc. now owns 7,147 shares of the basic materials company’s stock valued at $352,000 after purchasing an additional 1,354 shares during the period.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of POSCO in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

POSCO Trading Down 0.9%

Shares of PKX opened at $59.65 on Wednesday. POSCO has a one year low of $40.80 and a one year high of $71.35. The stock has a 50-day moving average price of $61.31 and a 200 day moving average price of $55.45. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.88. The company has a market capitalization of $18.10 billion, a P/E ratio of 45.19, a P/E/G ratio of 0.33 and a beta of 1.43.

POSCO (NYSE:PKX) last announced its earnings results on Thursday, January 29th. The basic materials company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($1.06). The business had revenue of $10.61 billion during the quarter, compared to analyst estimates of $11.85 billion. POSCO had a net margin of 0.97% and a return on equity of 1.09%. Sell-side analysts forecast that POSCO will post 3.74 EPS for the current fiscal year.

About POSCO

POSCO (NYSE: PKX) is a South Korea–based integrated steel producer founded in 1968 as Pohang Iron and Steel Company. Headquartered in Pohang, the company grew rapidly as part of South Korea’s industrialization program and developed large, integrated steelworks—most notably in Pohang and Gwangyang—that helped establish POSCO among the world’s largest steelmakers. It is structured as a diversified industrial group with steelmaking at its core and a range of downstream and trading businesses.

The company’s primary activities include ironmaking and steelmaking, producing a wide array of steel products such as hot-rolled and cold-rolled sheets, coated steels, plates, stainless and special steels, long products (bars and wire rods), and seamless pipes.