POSCO $PKX Stock Sold by Frank Rimerman Advisors LLC

Key Points

• Frank Rimerman Advisors LLC cut its POSCO stake by 66.5% in the third quarter, selling 32,366 shares and retaining 16,319 shares valued at approximately $921,000.
• Analyst sentiment is mixed: ratings include one Buy, one Hold and one Sell, resulting in a consensus “Hold” rating for POSCO.
• POSCO’s latest quarterly results exceeded expectations, with EPS of $1.30 versus the $0.85 estimate and revenue of $12.43 billion compared with the $11.96 billion consensus forecast.

Frank Rimerman Advisors LLC lessened its holdings in shares of POSCO (NYSE:PKX - Free Report) by 66.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 16,319 shares of the basic materials company's stock after selling 32,366 shares during the period. Frank Rimerman Advisors LLC's holdings in POSCO were worth $921,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mather Group LLC. grew its stake in shares of POSCO by 3,766.7% during the third quarter. Mather Group LLC. now owns 1,392 shares of the basic materials company's stock worth $79,000 after purchasing an additional 1,356 shares during the period. Keybank National Association OH acquired a new position in POSCO in the first quarter valued at about $200,000. QRG Capital Management Inc. bought a new position in POSCO during the first quarter worth about $219,000. Allspring Global Investments Holdings LLC bought a new position in POSCO during the first quarter worth about $222,000. Finally, MW Advisory LLC bought a new position in POSCO during the second quarter worth about $214,000.

Analysts Set New Price Targets

PKX has been the subject of a number of recent analyst reports. Wall Street Zen raised POSCO from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Zacks Research downgraded shares of POSCO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 29th. Finally, Weiss Ratings lowered shares of POSCO from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, October 9th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold".

POSCO Price Performance

PKX opened at $54.91 on Monday. 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 has a 12 month low of $48.50 and a 12 month high of $92.40. The company has a fifty day simple moving average of $58.61 and a 200 day simple moving average of $61.51. The stock has a market cap of $16.61 billion, a P/E ratio of 20.80 and a beta of 1.64.

POSCO (NYSE:PKX - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.30 EPS for the quarter, topping the consensus estimate of $0.85 by $0.45. The business had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $11.96 billion. POSCO had a return on equity of 1.99% and a net margin of 1.79%. On average, research analysts expect that POSCO will post 4.91 EPS for the current year.

POSCO Company Profile

POSCO is a South Korean steel producer and one of the world's major integrated steelmakers. The company manufactures a broad range of steel products, including hot- and cold-rolled steel, heavy plate, wire rod, stainless steel, galvanized steel, automotive steel and electrical steel.

POSCO operates large integrated steelworks in Pohang and Gwangyang, South Korea. Its products are used in automobiles, shipbuilding, construction, energy infrastructure, appliances and other industrial applications.

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