Banque Cantonale Vaudoise Invests $278,000 in POSCO (NYSE:PKX)

Key Points

• Banque Cantonale Vaudoise acquired 5,850 shares of POSCO, a basic materials company, valued at approximately $278,000 in the first quarter.
• POSCO reported earnings of $0.35 per share for the last quarter, missing analyst expectations of $0.52, with revenues of $12.66 billion compared to an expected $13.21 billion.
• Analysts have recently upgraded POSCO’s rating, with Morgan Stanley changing it from "equal weight" to "overweight," indicating a more positive outlook for the stock.

Banque Cantonale Vaudoise bought a new position in POSCO (NYSE:PKX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,850 shares of the basic materials company's stock, valued at approximately $278,000.

Several other hedge funds also recently made changes to their positions in PKX. Lindbrook Capital LLC grew its holdings in POSCO by 10.2% in the 1st quarter. Lindbrook Capital LLC now owns 3,412 shares of the basic materials company's stock worth $162,000 after acquiring an additional 316 shares during the last quarter. Gilman Hill Asset Management LLC boosted its holdings in shares of POSCO by 2.5% during the first 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 period. Parvin Asset Management LLC bought a new stake in shares of POSCO in the fourth quarter worth about $29,000. DMC Group LLC increased its holdings in POSCO by 11.2% during the 1st quarter. DMC Group LLC now owns 8,884 shares of the basic materials company's stock valued at $422,000 after purchasing an additional 895 shares during the period. Finally, Blue Trust Inc. increased its holdings in POSCO by 27.1% during the 1st quarter. Blue Trust Inc. now owns 4,819 shares of the basic materials company's stock valued at $229,000 after purchasing an additional 1,027 shares during the period.

POSCO Trading Down 0.0%

PKX stock traded down $0.02 during trading on Wednesday, reaching $53.83. The company had a trading volume of 19,479 shares, compared to its average volume of 267,641. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.89 and a quick ratio of 1.32. POSCO has a 52 week low of $39.40 and a 52 week high of $74.01. The business has a 50 day moving average of $52.14 and a 200 day moving average of $48.23. The company has a market cap of $16.34 billion, a P/E ratio of 66.54, a PEG ratio of 0.36 and a beta of 1.36.

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

Wall Street Analysts Forecast Growth

PKX has been the topic of a number of recent analyst reports. Morgan Stanley upgraded POSCO from an "equal weight" rating to an "overweight" rating in a research report on Friday, July 4th. Wall Street Zen raised POSCO from a "sell" rating to a "hold" rating in a research note on Saturday.

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.