13,911 Shares in POSCO $PKX Bought by Renaissance Technologies LLC

Renaissance Technologies LLC bought a new stake in POSCO (NYSE:PKX) during the first quarter, Holdings Channel reports. The firm bought 13,911 shares of the basic materials company’s stock, valued at approximately $814,000.

Several other institutional investors have also recently bought and sold shares of PKX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in POSCO during the fourth quarter valued at about $25,000. Allworth Financial LP grew its position in shares of POSCO by 51.6% in the third quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 232 shares during the last quarter. Headlands Technologies LLC increased its stake in shares of POSCO by 1,276.9% in the second quarter. Headlands Technologies LLC now owns 1,432 shares of the basic materials company’s stock worth $69,000 after purchasing an additional 1,328 shares during the period. Inspire Investing LLC bought a new position in shares of POSCO in the fourth quarter worth about $85,000. Finally, Raymond James Financial Inc. acquired a new position in shares of POSCO during the 2nd quarter worth about $95,000.

POSCO Stock Up 3.6%

Shares of PKX opened at $58.60 on Friday. The company has a 50-day simple moving average of $54.85 and a 200-day simple moving average of $62.58. The firm has a market capitalization of $17.73 billion, a P/E ratio of 22.20 and a beta of 1.56. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 1.90. POSCO has a 52 week low of $44.99 and a 52 week high of $92.40.

POSCO (NYSE:PKX) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.45. The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $11.96 billion. POSCO had a return on equity of 2.00% and a net margin of 1.79%. On average, equities research analysts expect that POSCO will post 4.91 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wall Street Zen raised POSCO from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Weiss Ratings upgraded POSCO from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, July 31st. Zacks Research raised POSCO from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Finally, UBS Group upgraded shares of POSCO from a “neutral” rating to a “buy” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

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.