POSCO (NYSE:PKX) Rating Lowered to Hold at Wall Street Zen

POSCO (NYSE:PKX) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other analysts also recently commented on PKX. Zacks Research raised shares of POSCO from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 2nd. Weiss Ratings cut shares of POSCO from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

POSCO Price Performance

Shares of NYSE:PKX opened at $48.87 on Friday. The business has a fifty day moving average price of $56.63 and a 200-day moving average price of $60.91. 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 company has a market capitalization of $14.78 billion, a PE ratio of 21.63 and a beta of 1.75. POSCO has a 1-year low of $48.20 and a 1-year high of $92.40.

Hedge Funds Weigh In On POSCO

Several hedge funds and other institutional investors have recently bought and sold shares of PKX. Nykredit A S purchased a new stake in shares of POSCO in the 2nd quarter worth $13,269,000. Quantinno Capital Management LP raised its holdings in POSCO by 82.7% in the 1st quarter. Quantinno Capital Management LP now owns 200,529 shares of the basic materials company’s stock worth $11,729,000 after purchasing an additional 90,777 shares during the period. Bank of America Corp DE raised its holdings in POSCO by 96.2% in the 1st quarter. Bank of America Corp DE now owns 109,074 shares of the basic materials company’s stock worth $6,380,000 after purchasing an additional 53,469 shares during the period. Barometer Capital Management Inc. purchased a new position in POSCO during the first quarter valued at $1,392,000. Finally, Renaissance Technologies LLC purchased a new position in POSCO during the first quarter valued at $814,000.

About POSCO

POSCO, now organized under POSCO Holdings Inc, is a South Korean steel and materials group. Its principal steelmaking business produces a range of products, including hot- and cold-rolled steel, stainless steel, plates, wire rod and electrical steel.

POSCO steel products serve industries such as automotive, construction, shipbuilding, energy and manufacturing. The company operates internationally, supplying customers in South Korea and overseas through its production facilities and global sales network.

Founded in 1968, POSCO developed integrated steelworks in Pohang and Gwangyang, South Korea.