POSCO (NYSE:PKX) Raised to “Buy” at StockNews.com

POSCO (NYSE:PKX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

POSCO Stock Performance

PKX traded down $1.63 during trading hours on Tuesday, hitting $53.83. 379,307 shares of the stock were exchanged, compared to its average volume of 139,688. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.03 and a quick ratio of 1.45. POSCO has a 12 month low of $53.63 and a 12 month high of $96.98. The stock has a 50-day simple moving average of $65.12 and a 200-day simple moving average of $66.55. The stock has a market cap of $16.34 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 0.70 and a beta of 1.44.

Institutional Investors Weigh In On POSCO

Several institutional investors and hedge funds have recently bought and sold shares of PKX. Seven Grand Managers LLC acquired a new stake in shares of POSCO during the 3rd quarter worth approximately $1,750,000. Frank Rimerman Advisors LLC bought a new stake in POSCO in the second quarter valued at $1,540,000. Altrius Capital Management Inc lifted its stake in POSCO by 15.9% in the third quarter. Altrius Capital Management Inc now owns 122,467 shares of the basic materials company’s stock valued at $8,571,000 after buying an additional 16,802 shares during the last quarter. Creative Planning boosted its holdings in shares of POSCO by 36.8% during the third quarter. Creative Planning now owns 53,801 shares of the basic materials company’s stock valued at $3,766,000 after acquiring an additional 14,485 shares during the period. Finally, Blue Trust Inc. grew its position in shares of POSCO by 152.9% during the third quarter. Blue Trust Inc. now owns 17,250 shares of the basic materials company’s stock worth $1,134,000 after acquiring an additional 10,428 shares during the last quarter.

POSCO Company Profile

POSCO Holdings Inc, together with its subsidiaries, operates as an integrated steel producer in Korea and internationally. It operates through six segments: Steel, Trading, Construction, Logistics and Others, Green Materials and Energy, and Others. The company engages in the production, import, sale, and export of steel products, such as hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets, as well as pig iron, billets, blooms, and slabs; trading of steel and raw materials, textiles, agricultural commodities, and other goods; natural resources development and power generation activities; and planning, designing, and construction of industrial plants, civil engineering projects, and commercial and residential buildings.