POSCO (NYSE:PKX) Sets New 12-Month Low – Here’s What Happened

POSCO (NYSE:PKX)’s stock price reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $48.43 and last traded at $49.38, with a volume of 101,577 shares traded. The stock had previously closed at $51.60.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PKX shares. Wall Street Zen raised POSCO from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings lowered POSCO from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 9th. Finally, Zacks Research raised POSCO from a “hold” rating to a “strong-buy” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

POSCO Stock Performance

The company has a quick ratio of 1.37, a current ratio of 1.98 and a debt-to-equity ratio of 0.30. The stock has a market cap of $14.79 billion, a price-to-earnings ratio of 21.70 and a beta of 1.75. The stock’s fifty day moving average is $57.08 and its 200-day moving average is $61.00.

Institutional Investors Weigh In On POSCO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barometer Capital Management Inc. bought a new position in POSCO in the 1st quarter valued at about $1,392,000. Nykredit A S bought a new stake in POSCO during the 2nd quarter worth approximately $13,269,000. Quantinno Capital Management LP raised its stake in shares of POSCO by 82.7% in the first 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 last quarter. Bank of America Corp DE raised its stake in shares of POSCO by 96.2% in the first 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 last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of POSCO by 58.3% in the first quarter. Sequoia Financial Advisors LLC now owns 37,608 shares of the basic materials company’s stock valued at $2,200,000 after purchasing an additional 13,851 shares in the last quarter.

About POSCO

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.