POSCO (NYSE:PKX) Downgraded to “Hold” Rating by StockNews.com

POSCO (NYSE:PKX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

POSCO Stock Performance

PKX opened at $60.72 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $65.74 and its 200-day moving average is $67.08. The stock has a market cap of $18.43 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 0.46 and a beta of 1.42. POSCO has a twelve month low of $58.00 and a twelve month high of $98.00.

Institutional Investors Weigh In On POSCO

Hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in shares of POSCO in the first quarter valued at $27,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of POSCO during the 3rd quarter valued at $49,000. GAMMA Investing LLC boosted its stake in shares of POSCO by 138.0% during the 3rd quarter. GAMMA Investing LLC now owns 871 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 505 shares in the last quarter. Advisors Preferred LLC acquired a new position in shares of POSCO in the 1st quarter worth $107,000. Finally, CWM LLC raised its position in shares of POSCO by 22.9% during the second quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock worth $132,000 after purchasing an additional 373 shares during the period.

About POSCO

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.