Posco (PKX) Shares Gap Down to $48.98
Posco (NYSE:PKX)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $48.64, but opened at $48.98. Posco shares last traded at $49.90, with a volume of 138,866 shares changing hands.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Posco from a “sell” rating to a “hold” rating in a report on Tuesday. Macquarie upgraded Posco from a “neutral” rating to an “outperform” rating in a report on Thursday, July 21st. Finally, Credit Agricole SA upgraded Posco from a “sell” rating to an “underperform” rating in a report on Monday, June 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Posco has an average rating of “Hold”.
The stock has a market capitalization of $16.28 billion, a price-to-earnings ratio of 76.53 and a beta of 1.28. The stock’s 50 day moving average is $49.84 and its 200 day moving average is $47.63.
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A number of institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. raised its position in Posco by 11.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 145,583 shares of the company’s stock valued at $6,479,000 after buying an additional 15,387 shares during the last quarter. Stifel Financial Corp raised its position in Posco by 1.2% in the second quarter. Stifel Financial Corp now owns 14,215 shares of the company’s stock valued at $632,000 after buying an additional 163 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Posco during the second quarter valued at about $231,000. Paloma Partners Management Co purchased a new position in Posco during the second quarter valued at about $661,000. Finally, Causeway Capital Management LLC purchased a new position in Posco during the second quarter valued at about $9,937,000. Institutional investors and hedge funds own 6.09% of the company’s stock.
Posco Company Profile
POSCO is an integrated steel producer. The Company operates in four segments: steel segment, trading segment, construction segment and others segment. The steel segment includes production of steel products and sale of such products. The trading segment consists of global trading activities of Daewoo International, exporting and importing a range of steel products that are both obtained from and supplied to POSCO, as well as between other suppliers and purchasers in Korea and overseas.
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