POSCO (NYSE:PKX) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lowered its position in shares of POSCO (NYSE:PKX - Free Report) by 21.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 32,310 shares of the basic materials company's stock after selling 9,009 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in POSCO were worth $1,574,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PKX. GAMMA Investing LLC lifted its holdings 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 valued at $76,000 after buying an additional 1,231 shares during the period. Deutsche Bank AG acquired a new position in shares of POSCO in the 4th quarter valued at about $770,000. Two Sigma Investments LP acquired a new position in shares of POSCO in the 4th quarter valued at about $1,062,000. Ovata Capital Management Ltd acquired a new position in shares of POSCO in the 4th quarter valued at about $4,791,000. Finally, Northern Trust Corp lifted its holdings in shares of POSCO by 157.0% in the 4th quarter. Northern Trust Corp now owns 429,264 shares of the basic materials company's stock valued at $18,613,000 after buying an additional 262,257 shares during the period.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley raised POSCO from an "equal weight" rating to an "overweight" rating in a report on Friday, July 4th. Wall Street Zen cut POSCO from a "hold" rating to a "sell" rating in a report on Saturday, June 14th.

POSCO Stock Performance

Shares of PKX stock traded down $0.12 on Friday, hitting $55.65. The company had a trading volume of 61,442 shares, compared to its average volume of 266,181. The firm has a market cap of $16.89 billion, a P/E ratio of 34.78, a price-to-earnings-growth ratio of 0.39 and a beta of 1.35. POSCO has a twelve month low of $39.40 and a twelve month high of $74.01. 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 company has a 50-day moving average price of $48.93 and a 200-day moving average price of $47.10.

POSCO (NYSE:PKX - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). The business had revenue of $12 billion during the quarter, compared to analyst estimates of $12.12 billion. POSCO had a return on equity of 1.45% and a net margin of 1.20%. As a group, equities research analysts predict that POSCO will post 3.74 earnings per share for the current fiscal 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.