Ramirez Asset Management Inc. Acquires New Shares in POSCO $PKX

Ramirez Asset Management Inc. acquired a new stake in POSCO (NYSE:PKX) in the 4th quarter, Holdings Channel reports. The firm acquired 59,024 shares of the basic materials company’s stock, valued at approximately $3,141,000.

Several other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. increased its stake in POSCO by 14.1% in 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 purchasing an additional 68,104 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in POSCO by 57.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 423,253 shares of the basic materials company’s stock valued at $20,117,000 after purchasing an additional 154,100 shares in the last quarter. BNP Paribas Financial Markets increased its stake in POSCO by 8.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 259,374 shares of the basic materials company’s stock valued at $12,577,000 after purchasing an additional 19,312 shares in the last quarter. UBS Group AG increased its stake in POSCO by 135.6% in the 4th 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in POSCO in the 3rd quarter valued at approximately $8,851,000.

POSCO Stock Performance

NYSE PKX opened at $61.39 on Friday. POSCO has a fifty-two week low of $44.99 and a fifty-two week high of $92.40. The stock has a market cap of $18.57 billion, a price-to-earnings ratio of 36.33 and a beta of 1.52. The business has a fifty day moving average of $70.38 and a 200-day moving average of $62.43. The company has a quick ratio of 1.29, a current ratio of 1.90 and a debt-to-equity ratio of 0.28.

POSCO (NYSE:PKX) last released its quarterly earnings results 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 company had revenue of $11.88 billion during the quarter, compared to analysts’ expectations of $11.75 billion. As a group, analysts predict that POSCO will post 4.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PKX has been the subject of several research analyst reports. Wall Street Zen raised POSCO from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Zacks Research downgraded POSCO from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 9th. UBS Group raised POSCO from a “neutral” rating to a “buy” rating in a research report on Monday, April 27th. Finally, Weiss Ratings raised POSCO from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold”.

POSCO Company Profile

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.