POSCO (NYSE:PKX) Raised to Buy at StockNews.com

StockNews.com upgraded shares of POSCO (NYSE:PKX) from a hold rating to a buy rating in a report published on Tuesday morning.

POSCO Stock Performance

Shares of PKX opened at $49.69 on Tuesday. POSCO has a one year low of $49.37 and a one year high of $96.98. The business has a fifty day moving average of $64.20 and a 200 day moving average of $66.06. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.03 and a quick ratio of 1.45. The firm has a market capitalization of $15.08 billion, a P/E ratio of 17.44, a PEG ratio of 0.64 and a beta of 1.44.

Hedge Funds Weigh In On POSCO

A number of institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP increased its position in POSCO by 1,788.4% in the first quarter. Quantbot Technologies LP now owns 2,927 shares of the basic materials company’s stock worth $230,000 after buying an additional 2,772 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of POSCO during the 1st quarter valued at approximately $27,000. Bayesian Capital Management LP raised its stake in POSCO by 23.7% during the 1st quarter. Bayesian Capital Management LP now owns 3,136 shares of the basic materials company’s stock worth $246,000 after acquiring an additional 600 shares during the period. Confluence Investment Management LLC lifted its holdings in POSCO by 3.0% during the second quarter. Confluence Investment Management LLC now owns 6,420 shares of the basic materials company’s stock valued at $422,000 after purchasing an additional 185 shares in the last quarter. Finally, CWM LLC boosted its position in shares of POSCO by 22.9% in the second quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock worth $132,000 after purchasing an additional 373 shares during the period.

POSCO Company Profile

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.