Thornburg Investment Management Inc. Acquires 5,442 Shares of POSCO (NYSE:PKX)

Key Points

• Thornburg Investment Management Inc. increased its stock position in POSCO by 35.4%, holding 20,804 shares worth approximately $989,000 as of its latest filing.
• Several other institutional investors have also increased their stakes in POSCO, with Northern Trust Corp raising its share by 157.0% to a total of 429,264 shares valued at $18.6 million.
• Recent analyst ratings for POSCO show a downgrade from Wall Street Zen to sell, while Morgan Stanley upgraded the stock from equal weight to overweight.

Thornburg Investment Management Inc. grew its holdings in shares of POSCO (NYSE:PKX - Free Report) by 35.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,804 shares of the basic materials company's stock after buying an additional 5,442 shares during the period. Thornburg Investment Management Inc.'s holdings in POSCO were worth $989,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Banque Cantonale Vaudoise purchased a new position in shares of POSCO in the 1st quarter worth about $278,000. Lindbrook Capital LLC increased its holdings in POSCO by 10.2% in the 1st 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 in the last quarter. Bridgewater Advisors Inc. bought a new stake in POSCO in the 1st quarter worth about $214,000. West Family Investments Inc. bought a new stake in POSCO in the 1st quarter worth about $247,000. Finally, Ballentine Partners LLC increased its holdings in POSCO by 36.2% in the 1st quarter. Ballentine Partners LLC now owns 10,970 shares of the basic materials company's stock worth $521,000 after buying an additional 2,916 shares in the last quarter.

POSCO Stock Performance

Shares of NYSE:PKX traded down $2.69 during mid-day trading on Friday, reaching $51.95. 157,108 shares of the company traded hands, compared to its average volume of 146,781. The company's 50 day moving average price is $51.75 and its 200-day moving average price is $48.09. The firm has a market cap of $15.77 billion, a PE ratio of 64.14, a PEG ratio of 0.38 and a beta of 1.35. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.89 and a quick ratio of 1.32. POSCO has a 52 week low of $39.40 and a 52 week high of $74.01.

POSCO (NYSE:PKX - Get Free Report) last released 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 business had revenue of $12.66 billion for the quarter, compared to analysts' expectations of $13.21 billion. On average, equities analysts expect that POSCO will post 3.74 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen upgraded POSCO from a "sell" rating to a "hold" rating in a report on Saturday. Morgan Stanley raised POSCO from an "equal weight" rating to an "overweight" rating in a research report on Friday, July 4th.

POSCO Company 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.