POSCO $PKX Shares Sold by Quadrant Capital Group LLC

Quadrant Capital Group LLC reduced its stake in POSCO (NYSE:PKX) by 10.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,131 shares of the basic materials company’s stock after selling 8,900 shares during the quarter. Quadrant Capital Group LLC’s holdings in POSCO were worth $4,318,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mather Group LLC. boosted its position in shares of POSCO by 3,766.7% during the 3rd quarter. Mather Group LLC. now owns 1,392 shares of the basic materials company’s stock valued at $79,000 after acquiring an additional 1,356 shares during the last quarter. Keybank National Association OH purchased a new stake in shares of POSCO in the first quarter valued at about $200,000. QRG Capital Management Inc. acquired a new stake in POSCO during the first quarter worth about $219,000. Allspring Global Investments Holdings LLC acquired a new stake in POSCO during the first quarter worth about $222,000. Finally, MW Advisory LLC purchased a new position in POSCO during the second quarter worth about $214,000.

POSCO Trading Down 2.0%

NYSE PKX opened at $56.25 on Wednesday. The firm’s 50-day moving average is $58.58 and its two-hundred day moving average is $61.49. POSCO has a 12 month low of $48.50 and a 12 month high of $92.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.98 and a quick ratio of 1.37. The stock has a market capitalization of $17.01 billion, a P/E ratio of 21.74 and a beta of 1.64.

POSCO (NYSE:PKX) last announced its earnings results on Thursday, July 30th. The basic materials company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.45. The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $11.96 billion. POSCO had a net margin of 1.79% and a return on equity of 1.99%. On average, sell-side analysts anticipate that POSCO will post 4.91 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on PKX. Zacks Research lowered shares of POSCO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Wall Street Zen upgraded shares of POSCO from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Weiss Ratings downgraded shares of POSCO from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 9th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

POSCO Profile

POSCO is a South Korean steel producer and one of the world’s major integrated steelmakers. The company manufactures a broad range of steel products, including hot- and cold-rolled steel, heavy plate, wire rod, stainless steel, galvanized steel, automotive steel and electrical steel.

POSCO operates large integrated steelworks in Pohang and Gwangyang, South Korea. Its products are used in automobiles, shipbuilding, construction, energy infrastructure, appliances and other industrial applications.