POSCO (NYSE:PKX) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of POSCO (NYSE:PKX - Free Report) from a sell rating to a hold rating in a research note published on Thursday morning.

POSCO Price Performance

Shares of PKX traded up $1.00 during midday trading on Thursday, reaching $43.75. The stock had a trading volume of 93,342 shares, compared to its average volume of 256,064. POSCO has a 52 week low of $39.40 and a 52 week high of $74.01. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.93 and a quick ratio of 1.35. The firm's 50 day moving average price is $45.99 and its 200-day moving average price is $46.70. The company has a market capitalization of $13.28 billion, a P/E ratio of 20.07, a P/E/G ratio of 2.14 and a beta of 1.36.

POSCO (NYSE:PKX - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). POSCO had a return on equity of 1.87% and a net margin of 1.55%. The firm had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.12 billion. On average, analysts forecast that POSCO will post 3.74 earnings per share for the current fiscal year.

Institutional Trading of POSCO

Hedge funds and other institutional investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of POSCO by 19.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 384,512 shares of the basic materials company's stock worth $16,672,000 after purchasing an additional 63,336 shares during the period. Ovata Capital Management Ltd acquired a new stake in shares of POSCO during the fourth quarter worth $4,791,000. Northern Trust Corp raised its position in shares of POSCO by 157.0% during the fourth quarter. Northern Trust Corp now owns 429,264 shares of the basic materials company's stock worth $18,613,000 after purchasing an additional 262,257 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of POSCO by 34.9% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 41,319 shares of the basic materials company's stock worth $1,792,000 after purchasing an additional 10,696 shares during the period. Finally, American Century Companies Inc. raised its position in shares of POSCO by 8.2% during the fourth quarter. American Century Companies Inc. now owns 369,394 shares of the basic materials company's stock worth $16,017,000 after purchasing an additional 28,124 shares during the period.

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.