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

POSCO (NYSE:PKX) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

POSCO Trading Up 0.3 %

POSCO stock traded up $0.15 during mid-day trading on Wednesday, hitting $45.47. The company’s stock had a trading volume of 243,527 shares, compared to its average volume of 169,470. The stock’s fifty day moving average is $53.71 and its two-hundred day moving average is $61.69. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $13.80 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 0.58 and a beta of 1.38. POSCO has a 1 year low of $44.64 and a 1 year high of $96.98.

Institutional Trading of POSCO

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ameritas Advisory Services LLC increased its position in shares of POSCO by 7.9% during the second quarter. Ameritas Advisory Services LLC now owns 4,084 shares of the basic materials company’s stock valued at $268,000 after acquiring an additional 298 shares during the last quarter. Van ECK Associates Corp raised its position in POSCO by 8.3% in the second quarter. Van ECK Associates Corp now owns 84,420 shares of the basic materials company’s stock valued at $5,550,000 after purchasing an additional 6,440 shares during the period. Caprock Group LLC acquired a new position in POSCO during the second quarter worth $442,000. Ballentine Partners LLC boosted its position in shares of POSCO by 16.4% during the second quarter. Ballentine Partners LLC now owns 6,122 shares of the basic materials company’s stock worth $402,000 after buying an additional 861 shares during the period. Finally, Choreo LLC acquired a new stake in shares of POSCO in the second quarter valued at $221,000.

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.