US Bancorp DE Boosts Stake in POSCO $PKX

US Bancorp DE lifted its holdings in POSCO (NYSE:PKX) by 3.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,230 shares of the basic materials company’s stock after buying an additional 429 shares during the quarter. US Bancorp DE’s holdings in POSCO were worth $593,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PKX. Nomura Holdings Inc. purchased a new stake in shares of POSCO in the first quarter valued at approximately $7,814,000. Goldman Sachs Group Inc. boosted its stake in shares of POSCO by 57.3% in the first quarter. Goldman Sachs Group Inc. now owns 423,253 shares of the basic materials company’s stock valued at $20,117,000 after buying an additional 154,100 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of POSCO by 9.0% in the first quarter. American Century Companies Inc. now owns 402,760 shares of the basic materials company’s stock valued at $19,143,000 after buying an additional 33,366 shares in the last quarter. Nuveen LLC purchased a new stake in shares of POSCO in the first quarter valued at approximately $1,090,000. Finally, OLD Mission Capital LLC purchased a new stake in shares of POSCO in the first quarter valued at approximately $1,040,000.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. UBS Group upgraded POSCO from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 21st. Weiss Ratings reiterated a “sell (d+)” rating on shares of POSCO in a research report on Wednesday, October 8th. Morgan Stanley upgraded POSCO from an “equal weight” rating to an “overweight” rating in a research report on Friday, July 4th. Finally, Wall Street Zen upgraded POSCO from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

POSCO Stock Performance

NYSE PKX opened at $52.29 on Monday. POSCO has a fifty-two week low of $39.40 and a fifty-two week high of $63.25. The stock has a market cap of $15.87 billion, a price-to-earnings ratio of 64.56, a price-to-earnings-growth ratio of 0.36 and a beta of 1.46. The business has a fifty day moving average of $51.31 and a 200-day moving average of $49.85. The company has a quick ratio of 1.41, a current ratio of 1.96 and a debt-to-equity ratio of 0.26.

POSCO (NYSE:PKX) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.17). POSCO had a return on equity of 0.82% and a net margin of 0.69%.The company had revenue of $12.66 billion during the quarter, compared to analyst estimates of $13.21 billion. As a group, analysts predict that POSCO will post 3.74 earnings per share for the current fiscal year.

About POSCO

POSCO Holdings Inc, together with its subsidiaries, operates as an integrated steel producer in Korea and internationally. It operates through six segments: Steel, Trading, Construction, Logistics and Others, Green Materials and Energy, and Others. The company engages in the production, import, sale, and export of steel products, such as hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets, as well as pig iron, billets, blooms, and slabs; trading of steel and raw materials, textiles, agricultural commodities, and other goods; natural resources development and power generation activities; and planning, designing, and construction of industrial plants, civil engineering projects, and commercial and residential buildings.