Banque Cantonale Vaudoise purchased a new stake in POSCO Holdings Inc. (NYSE:PKX – Get Rating) in the 4th quarter, HoldingsChannel reports. The fund purchased 8,100 shares of the basic materials company’s stock, valued at approximately $441,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of PKX. RWWM Inc. increased its stake in POSCO by 412.6% in the third quarter. RWWM Inc. now owns 569,113 shares of the basic materials company’s stock valued at $20,835,000 after purchasing an additional 458,086 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in POSCO in the third quarter valued at $8,019,000. BlackRock Inc. increased its stake in POSCO by 17.7% in the first quarter. BlackRock Inc. now owns 1,395,026 shares of the basic materials company’s stock valued at $82,683,000 after purchasing an additional 210,190 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in POSCO by 21.1% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 584,063 shares of the basic materials company’s stock valued at $21,383,000 after purchasing an additional 101,900 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new stake in POSCO in the fourth quarter valued at $4,814,000. 3.34% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
PKX has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut shares of POSCO from a “neutral” rating to an “underweight” rating in a report on Thursday, April 13th. Morgan Stanley cut shares of POSCO from an “overweight” rating to an “equal weight” rating in a report on Monday, April 3rd. Finally, StockNews.com upgraded shares of POSCO from a “hold” rating to a “buy” rating in a report on Friday.
POSCO Stock Down 1.1 %
POSCO Holdings Inc engages in the production of steel products. It operates through the following divisions: Steel, Engineering & Construction and Trading. The Steel division produces cold rolled, hot rolled and stainless steel products, plates, wire rods and silicon steel sheets. The Engineering & Construction division engages in the planning, designing and construction of industrial plants, civil engineering projects, commercial and residential buildings.
- Get a free copy of the StockNews.com research report on POSCO (PKX)
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