POSCO (NYSE:PKX) Sets New 12-Month Low – Here’s What Happened

Shares of POSCO (NYSE:PKX) reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $48.43 and last traded at $49.38, with a volume of 101,577 shares trading hands. The stock had previously closed at $51.60.

Analysts Set New Price Targets

Several research firms have weighed in on PKX. Zacks Research raised POSCO from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 2nd. Wall Street Zen downgraded POSCO from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings lowered POSCO from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

POSCO Stock Up 0.6%

The company has a quick ratio of 1.37, a current ratio of 1.98 and a debt-to-equity ratio of 0.30. The firm has a market cap of $14.78 billion, a PE ratio of 21.63 and a beta of 1.75. The firm’s 50 day moving average is $56.63 and its 200-day moving average is $60.91.

Hedge Funds Weigh In On POSCO

Institutional investors have recently added to or reduced their stakes in the business. Nykredit A S acquired a new stake in POSCO in the 2nd quarter worth about $13,269,000. Quantinno Capital Management LP increased its stake in shares of POSCO by 82.7% during the 1st quarter. Quantinno Capital Management LP now owns 200,529 shares of the basic materials company’s stock valued at $11,729,000 after acquiring an additional 90,777 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of POSCO by 96.2% during the 1st quarter. Bank of America Corp DE now owns 109,074 shares of the basic materials company’s stock worth $6,380,000 after acquiring an additional 53,469 shares during the period. Corient Private Wealth LP grew its holdings in POSCO by 26.7% in the second quarter. Corient Private Wealth LP now owns 50,761 shares of the basic materials company’s stock valued at $2,608,000 after purchasing an additional 10,699 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in POSCO by 28.7% in the second quarter. Sequoia Financial Advisors LLC now owns 48,420 shares of the basic materials company’s stock valued at $2,488,000 after purchasing an additional 10,812 shares during the period.

POSCO Company Profile

POSCO is a South Korean steel producer and one of the world’s major integrated steelmakers. The company manufactures a broad range of steel products, including hot- and cold-rolled steel, heavy plate, wire rod, stainless steel, galvanized steel, automotive steel and electrical steel.

POSCO operates large integrated steelworks in Pohang and Gwangyang, South Korea. Its products are used in automobiles, shipbuilding, construction, energy infrastructure, appliances and other industrial applications.