Barometer Capital Management Inc. Takes Position in POSCO $PKX

Barometer Capital Management Inc. acquired a new position in POSCO (NYSE:PKX) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 23,800 shares of the basic materials company’s stock, valued at approximately $1,392,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PKX. Ramirez Asset Management Inc. purchased a new stake in shares of POSCO in the 4th quarter worth $3,141,000. Frank Rimerman Advisors LLC lifted its position in POSCO by 156.9% during the fourth quarter. Frank Rimerman Advisors LLC now owns 22,300 shares of the basic materials company’s stock valued at $1,187,000 after purchasing an additional 13,620 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in POSCO by 58.3% during the first quarter. Sequoia Financial Advisors LLC now owns 37,608 shares of the basic materials company’s stock valued at $2,200,000 after purchasing an additional 13,851 shares during the period. UBS Group AG grew its holdings in POSCO by 135.6% during the fourth quarter. UBS Group AG now owns 199,914 shares of the basic materials company’s stock valued at $10,637,000 after purchasing an additional 115,069 shares during the period. Finally, Aaron Wealth Advisors LLC purchased a new stake in POSCO in the first quarter worth about $497,000.

POSCO Price Performance

NYSE:PKX opened at $51.63 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.90 and a debt-to-equity ratio of 0.28. The business’s 50-day simple moving average is $61.56 and its two-hundred day simple moving average is $62.86. The stock has a market cap of $15.62 billion, a PE ratio of 30.55 and a beta of 1.57. POSCO has a 52 week low of $44.99 and a 52 week high of $92.40.

POSCO (NYSE:PKX) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.12. POSCO had a return on equity of 1.34% and a net margin of 1.19%.The firm had revenue of $11.88 billion during the quarter, compared to analyst estimates of $11.75 billion. As a group, analysts forecast that POSCO will post 4.43 EPS for the current fiscal year.

Analyst Ratings Changes

PKX has been the topic of several recent research reports. Wall Street Zen downgraded POSCO from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Zacks Research raised shares of POSCO from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Weiss Ratings cut shares of POSCO from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 23rd. Finally, UBS Group raised shares of POSCO from a “neutral” rating to a “buy” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, POSCO presently has an average rating of “Hold”.

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.