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

POSCO (NYSE:PKX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

POSCO Stock Performance

Shares of PKX stock opened at $52.25 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.03 and a quick ratio of 1.45. The firm has a 50-day moving average of $63.84 and a 200-day moving average of $65.67. POSCO has a one year low of $49.37 and a one year high of $96.98. The company has a market cap of $15.86 billion, a P/E ratio of 18.33, a P/E/G ratio of 0.62 and a beta of 1.44.

Hedge Funds Weigh In On POSCO

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of POSCO during the third quarter valued at approximately $49,000. GAMMA Investing LLC boosted its position in POSCO by 138.0% in the third quarter. GAMMA Investing LLC now owns 871 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 505 shares during the last quarter. CWM LLC grew its stake in POSCO by 22.9% in the 2nd quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock valued at $132,000 after purchasing an additional 373 shares during the period. Bayesian Capital Management LP increased its position in shares of POSCO by 23.7% during the 1st quarter. Bayesian Capital Management LP now owns 3,136 shares of the basic materials company’s stock valued at $246,000 after purchasing an additional 600 shares during the last quarter. Finally, Choreo LLC bought a new stake in shares of POSCO during the 2nd quarter worth $221,000.

POSCO Company 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.