Nykredit A S Acquires Shares of 194,676 POSCO $PKX

Key Points

• Nykredit A/S acquired 194,676 POSCO shares worth approximately $10 million during the second quarter, representing about 0.06% of the company. Several other institutional investors also increased their holdings.
• Analyst sentiment is mixed but leans positive: Wall Street Zen and Zacks upgraded POSCO, while Weiss Ratings downgraded it to sell. MarketBeat lists a consensus rating of “Moderate Buy.”
• POSCO exceeded quarterly expectations, reporting $1.30 in earnings per share versus the $0.85 consensus and $12.43 billion in revenue versus estimates of $11.96 billion. The stock recently opened at $58.27, with a 52-week range of $44.99 to $92.40.

Nykredit A S bought a new position in POSCO (NYSE:PKX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 194,676 shares of the basic materials company's stock, valued at approximately $10,002,000. Nykredit A S owned approximately 0.06% of POSCO at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Corient Private Wealth LP increased its position in POSCO by 26.7% in the second quarter. Corient Private Wealth LP now owns 50,761 shares of the basic materials company's stock worth $2,608,000 after purchasing an additional 10,699 shares during the last quarter. HB Wealth Management LLC increased its holdings in shares of POSCO by 101.1% in the 2nd quarter. HB Wealth Management LLC now owns 9,801 shares of the basic materials company's stock worth $504,000 after buying an additional 4,928 shares during the last quarter. MW Advisory LLC bought a new stake in shares of POSCO in the 2nd quarter worth about $214,000. Syon Capital LLC raised its position in shares of POSCO by 31.6% during the 2nd quarter. Syon Capital LLC now owns 9,705 shares of the basic materials company's stock valued at $499,000 after buying an additional 2,329 shares in the last quarter. Finally, Greenspring Advisors LLC lifted its holdings in shares of POSCO by 58.6% in the 2nd quarter. Greenspring Advisors LLC now owns 5,631 shares of the basic materials company's stock valued at $289,000 after acquiring an additional 2,081 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PKX shares. Wall Street Zen raised POSCO from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Weiss Ratings lowered POSCO from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 18th. Finally, Zacks Research raised POSCO from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy".

POSCO Stock Performance

PKX stock opened at $58.27 on Monday. POSCO has a twelve month low of $44.99 and a twelve month high of $92.40. The firm has a market cap of $17.62 billion, a price-to-earnings ratio of 22.07 and a beta of 1.60. The business's fifty day simple moving average is $56.95 and its two-hundred day simple moving average is $61.73. The company has a quick ratio of 1.37, a current ratio of 1.98 and a debt-to-equity ratio of 0.30.

POSCO (NYSE:PKX - Get Free Report) last issued its earnings results on Thursday, July 30th. The basic materials company reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.45. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $11.96 billion. POSCO had a net margin of 1.79% and a return on equity of 1.99%. Analysts predict that POSCO will post 4.91 earnings per share for the current year.

POSCO Profile

POSCO is a South Korean steel producer and one of the world's major integrated steelmakers. The company traces its origins to 1968, when it was established as Pohang Iron and Steel Company, and it developed large-scale steelmaking operations in Pohang and Gwangyang, South Korea.

Its products include hot- and cold-rolled steel, plate, wire rod, stainless steel, electrical steel and other specialty materials used in automobiles, construction, shipbuilding, energy infrastructure, appliances and industrial equipment.

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