Summit Global Investments Takes $500,000 Position in POSCO $PKX

Summit Global Investments bought a new position in shares of POSCO (NYSE:PKX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,164 shares of the basic materials company’s stock, valued at approximately $500,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in shares of POSCO by 57.3% in the first quarter. Goldman Sachs Group Inc. now owns 423,253 shares of the basic materials company’s stock worth $20,117,000 after purchasing an additional 154,100 shares during the period. American Century Companies Inc. grew its position in POSCO by 19.6% during the second quarter. American Century Companies Inc. now owns 481,595 shares of the basic materials company’s stock worth $23,353,000 after buying an additional 78,835 shares in the last quarter. Hsbc Holdings PLC bought a new position in POSCO in the 2nd quarter worth about $3,126,000. Quadrant Capital Group LLC raised its holdings in shares of POSCO by 232.2% in the 2nd quarter. Quadrant Capital Group LLC now owns 60,290 shares of the basic materials company’s stock valued at $2,923,000 after acquiring an additional 42,143 shares in the last quarter. Finally, Vident Advisory LLC boosted its position in shares of POSCO by 50.2% during the 2nd quarter. Vident Advisory LLC now owns 68,898 shares of the basic materials company’s stock valued at $3,341,000 after acquiring an additional 23,036 shares during the last quarter.

POSCO Price Performance

Shares of POSCO stock opened at $59.34 on Friday. The firm has a market capitalization of $18.74 billion, a PE ratio of 44.95, a price-to-earnings-growth ratio of 0.33 and a beta of 1.49. The company has a current ratio of 1.96, a quick ratio of 1.38 and a debt-to-equity ratio of 0.25. POSCO has a 12 month low of $39.40 and a 12 month high of $65.49. The business’s 50-day moving average price is $55.27 and its 200-day moving average price is $53.78.

POSCO (NYSE:PKX) last issued its earnings results on Thursday, January 29th. The basic materials company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($1.06). The firm had revenue of ($37,213.55) million during the quarter, compared to analysts’ expectations of $11.85 billion. POSCO had a return on equity of 1.09% and a net margin of 0.97%. Sell-side analysts forecast that POSCO will post 3.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of POSCO in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, POSCO has a consensus rating of “Hold”.

About POSCO

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.