Corient IA LLC Invests $238,000 in POSCO $PKX

Key Points

• Corient IA LLC purchased a new 5,000 share stake in POSCO valued at approximately $238,000 during the first quarter.
• Several institutional investors, including Northern Trust Corp and GAMMA Investing LLC, have significantly increased their positions in POSCO recently.
• Analysts have upgraded POSCO's stock ratings, with Morgan Stanley moving it from "equal weight" to "overweight," indicating a positive outlook for the company.

Corient IA LLC bought a new position in POSCO (NYSE:PKX - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,000 shares of the basic materials company's stock, valued at approximately $238,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cerity Partners LLC grew its position in shares of POSCO by 59.9% in the 1st quarter. Cerity Partners LLC now owns 23,417 shares of the basic materials company's stock worth $1,113,000 after buying an additional 8,776 shares during the period. GAMMA Investing LLC grew its position in shares of POSCO by 329.1% in the 1st quarter. GAMMA Investing LLC now owns 1,605 shares of the basic materials company's stock worth $76,000 after buying an additional 1,231 shares during the period. Deutsche Bank AG purchased a new stake in shares of POSCO in the 4th quarter worth about $770,000. Two Sigma Investments LP purchased a new stake in shares of POSCO in the 4th quarter worth about $1,062,000. Finally, Northern Trust Corp lifted its stake in shares of POSCO by 157.0% in the fourth quarter. Northern Trust Corp now owns 429,264 shares of the basic materials company's stock worth $18,613,000 after buying an additional 262,257 shares in the last quarter.

POSCO Stock Performance

Shares of NYSE PKX traded up $1.2550 during trading on Friday, reaching $55.6250. 155,097 shares of the company traded hands, compared to its average volume of 103,600. The firm has a 50 day simple moving average of $54.13 and a 200-day simple moving average of $49.10. The company has a quick ratio of 1.32, a current ratio of 1.89 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $16.88 billion, a PE ratio of 68.67, a P/E/G ratio of 0.37 and a beta of 1.36. POSCO has a 52-week low of $39.40 and a 52-week high of $74.01.

POSCO (NYSE:PKX - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $12.66 billion for the quarter, compared to analysts' expectations of $13.21 billion. POSCO had a net margin of 0.69% and a return on equity of 0.81%. Equities research analysts anticipate that POSCO will post 3.74 earnings per share for the current year.

Analyst Ratings Changes

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

POSCO 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.