Frank Rimerman Advisors LLC Grows Stock Position in POSCO $PKX

Frank Rimerman Advisors LLC increased its stake in POSCO (NYSE:PKX) by 156.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,300 shares of the basic materials company’s stock after buying an additional 13,620 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in POSCO were worth $1,187,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PKX. Tuttle Capital Management LLC bought a new position in POSCO during the fourth quarter valued at $475,000. Allworth Financial LP lifted its holdings in shares of POSCO by 51.6% in the 3rd quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 232 shares during the last quarter. Mariner LLC boosted its stake in shares of POSCO by 13.4% during the 3rd quarter. Mariner LLC now owns 14,537 shares of the basic materials company’s stock worth $715,000 after purchasing an additional 1,718 shares during the period. Citadel Advisors LLC boosted its stake in shares of POSCO by 1,456.8% during the 3rd quarter. Citadel Advisors LLC now owns 59,453 shares of the basic materials company’s stock worth $2,926,000 after purchasing an additional 63,835 shares during the period. Finally, Centiva Capital LP bought a new position in POSCO during the 3rd quarter valued at about $378,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of POSCO in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

POSCO Stock Performance

Shares of POSCO stock opened at $58.65 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.88 and a debt-to-equity ratio of 0.26. The stock’s fifty day moving average is $61.99 and its two-hundred day moving average is $56.06. POSCO has a 52 week low of $40.80 and a 52 week high of $71.35. The company has a market capitalization of $17.74 billion, a PE ratio of 44.44, a price-to-earnings-growth ratio of 0.32 and a beta of 1.43.

POSCO (NYSE:PKX) last released its earnings results on Thursday, January 29th. The basic materials company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of $0.45 by ($1.06). The business had revenue of $10.61 billion for the quarter, compared to the consensus estimate of $11.85 billion. POSCO had a return on equity of 1.09% and a net margin of 0.97%. As a group, analysts expect that POSCO will post 3.74 earnings per share for the current year.

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.