POSCO (NYSE:PKX) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of POSCO (NYSE:PKX) from a buy rating to a hold rating in a report issued on Thursday.

POSCO Price Performance

Shares of NYSE PKX opened at $44.24 on Thursday. The firm has a market cap of $13.43 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 0.58 and a beta of 1.40. The stock has a fifty day simple moving average of $50.83 and a two-hundred day simple moving average of $60.42. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.27. POSCO has a 1-year low of $42.35 and a 1-year high of $92.42.

Hedge Funds Weigh In On POSCO

Several large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new position in POSCO in the 3rd quarter worth approximately $49,000. GAMMA Investing LLC boosted its holdings in shares of POSCO by 138.0% in the third quarter. GAMMA Investing LLC now owns 871 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 505 shares during the period. CWM LLC boosted its holdings in shares of POSCO by 16.3% in the third quarter. CWM LLC now owns 2,331 shares of the basic materials company’s stock worth $163,000 after acquiring an additional 327 shares during the period. Choreo LLC purchased a new position in shares of POSCO in the second quarter valued at $221,000. Finally, PDS Planning Inc raised its stake in shares of POSCO by 11.4% during the 3rd quarter. PDS Planning Inc now owns 4,062 shares of the basic materials company’s stock valued at $284,000 after purchasing an additional 416 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.