American Century Companies Inc. Purchases 33,366 Shares of POSCO $PKX

Key Points

• American Century Companies Inc. increased its holdings in POSCO by 9.0% during the first quarter, owning a total of 402,760 shares valued at approximately $19.1 million.
• POSCO reported a quarterly earnings miss with an EPS of $0.35, falling short of the consensus estimate of $0.52, and revenue of $12.66 billion, below expectations of $13.21 billion.
• Analyst ratings for POSCO have improved, with Wall Street Zen and Morgan Stanley upgrading the stock to "hold" and "overweight," respectively, leading to an average rating of "Moderate Buy."

American Century Companies Inc. lifted its position in shares of POSCO (NYSE:PKX - Free Report) by 9.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 402,760 shares of the basic materials company's stock after purchasing an additional 33,366 shares during the period. American Century Companies Inc. owned 0.13% of POSCO worth $19,143,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Lindbrook Capital LLC increased its stake in shares of POSCO by 10.2% during the 1st quarter. Lindbrook Capital LLC now owns 3,412 shares of the basic materials company's stock worth $162,000 after purchasing an additional 316 shares during the last quarter. Gilman Hill Asset Management LLC increased its stake in shares of POSCO by 2.5% during the 1st quarter. Gilman Hill Asset Management LLC now owns 21,564 shares of the basic materials company's stock worth $1,025,000 after purchasing an additional 535 shares during the last quarter. Parvin Asset Management LLC acquired a new position in shares of POSCO during the 4th quarter worth about $29,000. PNC Financial Services Group Inc. increased its stake in shares of POSCO by 6.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,748 shares of the basic materials company's stock worth $511,000 after purchasing an additional 681 shares during the last quarter. Finally, DMC Group LLC increased its stake in shares of POSCO by 11.2% during the 1st quarter. DMC Group LLC now owns 8,884 shares of the basic materials company's stock worth $422,000 after purchasing an additional 895 shares during the last quarter.

POSCO Stock Performance

NYSE PKX traded down $0.82 during trading on Thursday, reaching $52.70. The company's stock had a trading volume of 91,082 shares, compared to its average volume of 251,468. The company has a current ratio of 1.89, a quick ratio of 1.32 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $15.99 billion, a price-to-earnings ratio of 65.03, a price-to-earnings-growth ratio of 0.38 and a beta of 1.36. POSCO has a 12 month low of $39.40 and a 12 month high of $74.01. The firm has a 50 day moving average price of $54.56 and a 200 day moving average price of $49.37.

POSCO (NYSE:PKX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.17). The business had revenue of $12.66 billion during the quarter, compared to the consensus estimate of $13.21 billion. POSCO had a net margin of 0.69% and a return on equity of 0.81%. As a group, equities analysts anticipate that POSCO will post 3.74 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Morgan Stanley upgraded shares of POSCO from an "equal weight" rating to an "overweight" rating in a research note on Friday, July 4th. UBS Group upgraded shares of POSCO from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 21st. Finally, Wall Street Zen upgraded shares of POSCO from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy".

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.