Russell Investments Group Ltd. Trims Position in POSCO (NYSE:PKX)

Russell Investments Group Ltd. decreased its stake in shares of POSCO (NYSE:PKX) by 69.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,164 shares of the basic materials company’s stock after selling 29,982 shares during the period. Russell Investments Group Ltd.’s holdings in POSCO were worth $1,010,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PKX. Envestnet Asset Management Inc. increased its position in POSCO by 188.4% during the first quarter. Envestnet Asset Management Inc. now owns 33,124 shares of the basic materials company’s stock worth $2,392,000 after purchasing an additional 21,640 shares during the last quarter. Natixis Advisors L.P. increased its position in shares of POSCO by 14.6% in the first quarter. Natixis Advisors L.P. now owns 20,592 shares of the basic materials company’s stock worth $1,486,000 after acquiring an additional 2,628 shares in the last quarter. Exencial Wealth Advisors LLC increased its position in shares of POSCO by 30.8% in the first quarter. Exencial Wealth Advisors LLC now owns 6,786 shares of the basic materials company’s stock worth $490,000 after acquiring an additional 1,597 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of POSCO in the first quarter worth $98,000. Finally, BlackRock Inc. increased its position in shares of POSCO by 310.3% in the first quarter. BlackRock Inc. now owns 1,020,842 shares of the basic materials company’s stock worth $73,704,000 after acquiring an additional 772,047 shares in the last quarter. 3.47% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on PKX shares. Zacks Investment Research lowered shares of POSCO from a “buy” rating to a “hold” rating in a research report on Thursday, September 16th. UBS Group downgraded shares of POSCO from a “buy” rating to a “neutral” rating in a research note on Thursday, May 27th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, POSCO presently has an average rating of “Buy” and an average price target of $86.00.

Shares of PKX opened at $72.58 on Tuesday. POSCO has a 12-month low of $39.02 and a 12-month high of $92.19. The firm’s 50 day moving average is $73.82 and its 200-day moving average is $75.52. The stock has a market capitalization of $25.31 billion, a P/E ratio of 6.54, a P/E/G ratio of 1.36 and a beta of 1.11. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.26 and a quick ratio of 1.62.

POSCO (NYSE:PKX) last released its quarterly earnings results on Friday, August 27th. The basic materials company reported $4.90 EPS for the quarter. POSCO had a net margin of 6.10% and a return on equity of 8.19%. The company had revenue of $16.32 billion for the quarter. As a group, equities research analysts forecast that POSCO will post 11.26 EPS for the current fiscal year.

POSCO Profile

POSCO engages in the production of steel products. It operates through the following divisions: Steel, Engineering & Construction and Trading. The Steel division produces cold rolled, hot rolled and stain less steel products, plates, wire rods and silicon steel sheets. The Engineering & Construction division engages in the planning, designing and construction of industrial plants, civil engineering projects, commercial and residential buildings.

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Institutional Ownership by Quarter for POSCO (NYSE:PKX)

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