POSCO (NYSE:PKX) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

POSCO (NYSE:PKX)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $52.93 and traded as high as $53.40. POSCO shares last traded at $53.18, with a volume of 75,449 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of POSCO in a report on Monday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, POSCO has a consensus rating of “Hold”.

POSCO Stock Down 0.5%

The company’s 50-day moving average price is $53.76 and its 200 day moving average price is $52.93. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.38 and a current ratio of 1.96. The stock has a market cap of $16.14 billion, a PE ratio of 71.87, a price-to-earnings-growth ratio of 0.38 and a beta of 1.52.

POSCO (NYSE:PKX) last posted its quarterly earnings data on Monday, October 27th. The basic materials company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. POSCO had a net margin of 0.64% and a return on equity of 0.74%. The company had revenue of $12.29 billion for the quarter, compared to the consensus estimate of $12.41 billion. As a group, analysts forecast that POSCO will post 3.74 EPS for the current fiscal year.

Institutional Investors Weigh In On POSCO

Several hedge funds and other institutional investors have recently modified their holdings of PKX. Parallel Advisors LLC lifted its position in POSCO by 4.5% during the third quarter. Parallel Advisors LLC now owns 4,863 shares of the basic materials company’s stock valued at $239,000 after purchasing an additional 211 shares in the last quarter. Allworth Financial LP raised its stake in shares of POSCO by 51.6% in the third quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock worth $34,000 after buying an additional 232 shares during the period. Founders Capital Management raised its stake in shares of POSCO by 100.0% in the third quarter. Founders Capital Management now owns 600 shares of the basic materials company’s stock worth $30,000 after buying an additional 300 shares during the period. US Bancorp DE lifted its position in shares of POSCO by 3.6% during the 2nd quarter. US Bancorp DE now owns 12,230 shares of the basic materials company’s stock valued at $593,000 after buying an additional 429 shares in the last quarter. Finally, Bridgewater Advisors Inc. grew its stake in shares of POSCO by 10.6% during the 3rd quarter. Bridgewater Advisors Inc. now owns 4,872 shares of the basic materials company’s stock valued at $258,000 after acquiring an additional 466 shares during the period.

POSCO Company Profile

POSCO (NYSE: PKX) is a South Korea–based integrated steel producer founded in 1968 as Pohang Iron and Steel Company. Headquartered in Pohang, the company grew rapidly as part of South Korea’s industrialization program and developed large, integrated steelworks—most notably in Pohang and Gwangyang—that helped establish POSCO among the world’s largest steelmakers. It is structured as a diversified industrial group with steelmaking at its core and a range of downstream and trading businesses.

The company’s primary activities include ironmaking and steelmaking, producing a wide array of steel products such as hot-rolled and cold-rolled sheets, coated steels, plates, stainless and special steels, long products (bars and wire rods), and seamless pipes.