POSCO (NYSE:PKX) Trading Down 8.1% – Here’s What Happened
by Scott Moore · The Cerbat GemShares of POSCO (NYSE:PKX – Get Free Report) were down 8.1% on Tuesday . The company traded as low as $79.07 and last traded at $81.46. Approximately 64,856 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 210,499 shares. The stock had previously closed at $88.61.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on PKX. UBS Group raised shares of POSCO from a “neutral” rating to a “buy” rating in a research note on Monday, April 27th. Weiss Ratings upgraded shares of POSCO from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 22nd. Finally, Zacks Research downgraded shares of POSCO from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 9th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold”.
Check Out Our Latest Research Report on PKX
POSCO Stock Down 7.8%
The stock has a market capitalization of $24.70 billion, a P/E ratio of 48.08 and a beta of 1.58. The stock’s 50 day moving average price is $65.09 and its 200-day moving average price is $59.90.
POSCO (NYSE:PKX – Get Free Report) last posted its earnings results on Thursday, April 30th. The basic materials company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.12. The company had revenue of $11.88 billion during the quarter, compared to analyst estimates of $11.75 billion. POSCO had a return on equity of 1.35% and a net margin of 1.19%. Analysts anticipate that POSCO will post 4.56 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of PKX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in POSCO during the fourth quarter valued at approximately $25,000. Founders Capital Management boosted its position in shares of POSCO by 100.0% in the 3rd quarter. Founders Capital Management now owns 600 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 300 shares in the last quarter. Allworth Financial LP grew its stake in POSCO by 51.6% during the 3rd 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 last quarter. Headlands Technologies LLC increased its position in POSCO by 1,276.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,432 shares of the basic materials company’s stock valued at $69,000 after buying an additional 1,328 shares in the last quarter. Finally, Inspire Investing LLC purchased a new stake in POSCO in the fourth quarter valued at about $85,000.
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.