Parallel Advisors LLC Lowers Position in POSCO $PKX

Parallel Advisors LLC decreased its position in POSCO (NYSE:PKX) by 36.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,652 shares of the basic materials company’s stock after selling 2,695 shares during the period. Parallel Advisors LLC’s holdings in POSCO were worth $226,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Lindbrook Capital LLC boosted its holdings in shares of POSCO by 10.2% in the first quarter. Lindbrook Capital LLC now owns 3,412 shares of the basic materials company’s stock valued at $162,000 after acquiring an additional 316 shares in the last quarter. AQR Capital Management LLC boosted its holdings in POSCO by 8.3% during the first quarter. AQR Capital Management LLC now owns 6,462 shares of the basic materials company’s stock worth $307,000 after buying an additional 495 shares in the last quarter. Gilman Hill Asset Management LLC boosted its holdings in POSCO by 2.5% during the first quarter. Gilman Hill Asset Management LLC now owns 21,564 shares of the basic materials company’s stock worth $1,025,000 after buying an additional 535 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in POSCO by 6.8% during the first quarter. PNC Financial Services Group Inc. now owns 10,748 shares of the basic materials company’s stock worth $511,000 after buying an additional 681 shares in the last quarter. Finally, DMC Group LLC boosted its holdings in POSCO by 11.2% during the first quarter. DMC Group LLC now owns 8,884 shares of the basic materials company’s stock worth $422,000 after buying an additional 895 shares in the last quarter.

POSCO Stock Performance

Shares of PKX opened at $50.25 on Monday. The company has a current ratio of 1.96, a quick ratio of 1.41 and a debt-to-equity ratio of 0.26. The stock has a market cap of $15.25 billion, a P/E ratio of 62.04, a PEG ratio of 0.35 and a beta of 1.41. The company has a 50-day moving average of $54.16 and a two-hundred day moving average of $50.13. POSCO has a 12-month low of $39.40 and a 12-month high of $74.01.

POSCO (NYSE:PKX) last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.17). The business had revenue of $12.66 billion for the quarter, compared to analyst estimates of $13.21 billion. POSCO had a return on equity of 0.82% and a net margin of 0.69%. As a group, research analysts predict that POSCO will post 3.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PKX has been the topic of a number of research analyst reports. Wall Street Zen raised shares of POSCO from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Morgan Stanley raised shares of POSCO from an “equal weight” rating to an “overweight” rating in a report on Friday, July 4th. Finally, UBS Group raised shares of POSCO from a “strong sell” rating to a “hold” rating in a report on Thursday, August 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

POSCO 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.