LGT Group Foundation Invests $231,000 in POSCO $PKX

Key Points

• LGT Group Foundation has made a new investment of approximately $231,000 in POSCO by purchasing 4,865 shares during the first quarter.
• POSCO's stock price increased by 0.8%, with current trading around $56.33 per share, following its latest earnings report.
• Analyst ratings have seen recent changes, with Morgan Stanley upgrading POSCO to an "overweight" rating from "equal weight".

LGT Group Foundation acquired a new position in shares of POSCO (NYSE:PKX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,865 shares of the basic materials company's stock, valued at approximately $231,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parvin Asset Management LLC bought a new stake in shares of POSCO during the 4th quarter worth about $29,000. GAMMA Investing LLC boosted its position in POSCO by 329.1% in the 1st quarter. GAMMA Investing LLC now owns 1,605 shares of the basic materials company's stock valued at $76,000 after buying an additional 1,231 shares during the last quarter. Lindbrook Capital LLC boosted its position in shares of POSCO by 10.2% during the first quarter. Lindbrook Capital LLC now owns 3,412 shares of the basic materials company's stock worth $162,000 after buying an additional 316 shares during the period. Johnson Investment Counsel Inc. acquired a new position in shares of POSCO during the first quarter worth about $201,000. Finally, QRG Capital Management Inc. bought a new stake in POSCO in the first quarter valued at approximately $212,000.

Wall Street Analysts Forecast Growth

PKX has been the topic of a number of recent research reports. Wall Street Zen upgraded POSCO from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Morgan Stanley raised POSCO from an "equal weight" rating to an "overweight" rating in a research report on Friday, July 4th.

POSCO Stock Performance

POSCO stock traded down $0.99 during trading on Monday, hitting $54.27. The stock had a trading volume of 34,332 shares, compared to its average volume of 258,980. The stock has a market cap of $16.47 billion, a price-to-earnings ratio of 67.01, a price-to-earnings-growth ratio of 0.38 and a beta of 1.36. POSCO has a 1 year low of $39.40 and a 1 year high of $74.01. The stock's 50 day moving average is $53.57 and its two-hundred day moving average is $48.78. The company has a quick ratio of 1.32, a current ratio of 1.89 and a debt-to-equity ratio of 0.24.

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 company had revenue of $12.66 billion during the quarter, compared to analysts' expectations of $13.21 billion. As a group, analysts predict that POSCO will post 3.74 EPS for the current year.

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.