Morgan Stanley cut its stake in shares of POSCO (NYSE:PKX) by 32.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 645,616 shares of the basic materials company’s stock after selling 304,579 shares during the quarter. Morgan Stanley owned approximately 0.19% of POSCO worth $21,080,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in PKX. Parametric Portfolio Associates LLC boosted its stake in shares of POSCO by 15.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 686,583 shares of the basic materials company’s stock valued at $22,417,000 after purchasing an additional 90,078 shares during the last quarter. UBS Group AG lifted its holdings in POSCO by 158.4% in the first quarter. UBS Group AG now owns 627,951 shares of the basic materials company’s stock valued at $20,502,000 after buying an additional 384,915 shares during the period. Aperio Group LLC boosted its position in POSCO by 1.5% during the first quarter. Aperio Group LLC now owns 413,326 shares of the basic materials company’s stock valued at $13,495,000 after acquiring an additional 6,236 shares during the last quarter. Pzena Investment Management LLC boosted its position in POSCO by 54.7% during the first quarter. Pzena Investment Management LLC now owns 293,407 shares of the basic materials company’s stock valued at $9,580,000 after acquiring an additional 103,707 shares during the last quarter. Finally, Greenline Partners LLC grew its holdings in POSCO by 23.7% during the 1st quarter. Greenline Partners LLC now owns 168,238 shares of the basic materials company’s stock worth $5,493,000 after acquiring an additional 32,274 shares during the period. 3.16% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on the company. ValuEngine upgraded POSCO from a “sell” rating to a “hold” rating in a research report on Tuesday, March 24th. Zacks Investment Research upgraded POSCO from a “sell” rating to a “hold” rating in a report on Saturday. Nomura lowered shares of POSCO from a “buy” rating to a “hold” rating in a research note on Friday, April 24th. Finally, Morgan Stanley lowered shares of POSCO from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $59.00.
PKX opened at $37.18 on Wednesday. The firm’s fifty day moving average price is $37.71 and its two-hundred day moving average price is $41.03. The company has a market capitalization of $13.06 billion, a price-to-earnings ratio of 9.51, a P/E/G ratio of 2.00 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.07 and a quick ratio of 1.48. POSCO has a 1 year low of $26.27 and a 1 year high of $54.53.
POSCO (NYSE:PKX) last released its quarterly earnings results on Monday, June 8th. The basic materials company reported $1.03 earnings per share for the quarter. POSCO had a net margin of 2.37% and a return on equity of 3.20%. The business had revenue of $12.20 billion for the quarter. As a group, equities analysts anticipate that POSCO will post 3.74 EPS for the current year.
POSCO Company Profile
POSCO manufactures and sells steel rolled products and plates in South Korea and internationally. It operates through four segments: Steel, Construction, Trading, and Others. The company offers hot and cold rolled steel, wire rods, galvanized and electrical galvanized steel, steel plates, electrical and stainless steel, and titanium.
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