POSCO (NYSE:PKX) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of POSCO (NYSE:PKX) from a buy rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

A number of other equities research analysts have also recently commented on PKX. Zacks Research raised shares of POSCO from a “hold” rating to a “strong-buy” rating in a report on Monday, November 2nd. Weiss Ratings lowered POSCO from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, POSCO currently has an average rating of “Moderate Buy”.

POSCO Stock Up 0.6%

Shares of NYSE:PKX opened at $48.87 on Friday. The stock has a market cap of $14.78 billion, a P/E ratio of 21.63 and a beta of 1.75. The firm has a fifty day moving average price of $56.63 and a 200 day moving average price of $60.91. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.98 and a quick ratio of 1.37. POSCO has a 1-year low of $48.20 and a 1-year high of $92.40.

Institutional Investors Weigh In On POSCO

Several hedge funds have recently modified their holdings of PKX. Nykredit A S purchased a new stake in shares of POSCO in the 2nd quarter worth about $13,269,000. Quantinno Capital Management LP increased its holdings in 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 in the last quarter. Bank of America Corp DE increased its holdings in 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 valued at $6,380,000 after acquiring an additional 53,469 shares in the last quarter. Barometer Capital Management Inc. purchased a new position in POSCO during the 1st quarter valued at about $1,392,000. Finally, Renaissance Technologies LLC acquired a new position in POSCO during the first quarter worth about $814,000.

POSCO Company Profile

POSCO, now organized under POSCO Holdings Inc, is a South Korean steel and materials group. Its principal steelmaking business produces a range of products, including hot- and cold-rolled steel, stainless steel, plates, wire rod and electrical steel.

POSCO steel products serve industries such as automotive, construction, shipbuilding, energy and manufacturing. The company operates internationally, supplying customers in South Korea and overseas through its production facilities and global sales network.

Founded in 1968, POSCO developed integrated steelworks in Pohang and Gwangyang, South Korea.