POSCO (NYSE:PKX) Raised to Hold at Wall Street Zen

POSCO (NYSE:PKX) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Separately, Morgan Stanley upgraded shares of POSCO from an “equal weight” rating to an “overweight” rating in a research note on Friday, July 4th.

POSCO Stock Down 4.9%

POSCO stock opened at $51.95 on Friday. POSCO has a 1-year low of $39.40 and a 1-year high of $74.01. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.89 and a quick ratio of 1.32. The stock has a market cap of $15.77 billion, a PE ratio of 64.14, a P/E/G ratio of 0.36 and a beta of 1.36. The stock’s fifty day moving average is $51.75 and its two-hundred day moving average is $48.14.

POSCO (NYSE:PKX) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.17). POSCO had a return on equity of 0.81% and a net margin of 0.69%. The company had revenue of $12.66 billion for the quarter, compared to analyst estimates of $13.21 billion. On average, sell-side analysts expect that POSCO will post 3.74 EPS for the current fiscal year.

Hedge Funds Weigh In On POSCO

A number of institutional investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC increased its holdings in shares of POSCO by 20.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 17,656 shares of the basic materials company’s stock valued at $856,000 after acquiring an additional 2,993 shares during the period. Yousif Capital Management LLC increased its holdings in shares of POSCO by 442.0% in the second quarter. Yousif Capital Management LLC now owns 27,683 shares of the basic materials company’s stock valued at $1,342,000 after purchasing an additional 22,575 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of POSCO by 25.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 34,395 shares of the basic materials company’s stock valued at $1,668,000 after purchasing an additional 6,920 shares during the period. Blue Trust Inc. increased its holdings in shares of POSCO by 161.3% in the second quarter. Blue Trust Inc. now owns 12,592 shares of the basic materials company’s stock valued at $611,000 after purchasing an additional 7,773 shares during the period. Finally, US Bancorp DE increased its holdings in shares of POSCO by 3.6% in the second quarter. US Bancorp DE now owns 12,230 shares of the basic materials company’s stock valued at $593,000 after purchasing an additional 429 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.