POSCO (PKX) Stake Boosted by Assetmark Inc.

Assetmark Inc. boosted its position in shares of POSCO (NYSE:PKX) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,527 shares of the basic materials company’s stock after acquiring an additional 7,275 shares during the period. Assetmark Inc.’s holdings in POSCO were worth $11,123,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Millennium Management LLC increased its stake in POSCO by 5.9% during the second quarter. Millennium Management LLC now owns 193,816 shares of the basic materials company’s stock valued at $14,366,000 after acquiring an additional 10,840 shares during the period. Segantii Capital Management Ltd bought a new position in POSCO during the third quarter valued at about $6,224,000. Nomura Asset Management Co. Ltd. increased its stake in POSCO by 11.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 63,400 shares of the basic materials company’s stock valued at $4,184,000 after acquiring an additional 6,300 shares during the period. Schwab Charles Investment Management Inc. increased its stake in POSCO by 0.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 244,520 shares of the basic materials company’s stock valued at $18,124,000 after acquiring an additional 1,956 shares during the period. Finally, RWWM Inc. increased its stake in POSCO by 19.7% during the third quarter. RWWM Inc. now owns 249,457 shares of the basic materials company’s stock valued at $16,465,000 after acquiring an additional 41,022 shares during the period. Hedge funds and other institutional investors own 4.89% of the company’s stock.

NYSE PKX opened at $54.98 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.14 and a current ratio of 1.67. The company has a market cap of $19.86 billion, a price-to-earnings ratio of 7.09, a P/E/G ratio of 1.22 and a beta of 1.34. POSCO has a 1-year low of $52.53 and a 1-year high of $93.12.

POSCO (NYSE:PKX) last released its quarterly earnings data on Tuesday, September 4th. The basic materials company reported $1.56 earnings per share for the quarter. The company had revenue of $14.96 billion for the quarter. POSCO had a return on equity of 6.21% and a net margin of 4.77%. On average, sell-side analysts predict that POSCO will post 9.35 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, September 28th were issued a dividend of $0.361 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Thursday, September 27th. POSCO’s payout ratio is 18.58%.

A number of research firms have weighed in on PKX. Zacks Investment Research raised POSCO from a “sell” rating to a “hold” rating in a report on Monday, September 24th. Daiwa Capital Markets began coverage on POSCO in a report on Monday, September 10th. They set an “outperform” rating on the stock. Goldman Sachs Group downgraded POSCO from a “buy” rating to a “neutral” rating in a report on Monday, October 8th. Morgan Stanley began coverage on POSCO in a report on Wednesday, November 7th. They set a “weight” rating on the stock. Finally, ValuEngine downgraded POSCO from a “sell” rating to a “strong sell” rating in a report on Monday, November 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $98.00.

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About POSCO

POSCO manufactures and sells steel rolled products and plates in South Korea and internationally. It operates through four segments: Steel, Construction, Trading, and Others. The company offers hot and cold rolled steel, steel plates, wire rods, galvanized and electrical galvanized steel, electrical and stainless steel, automotive materials, titanium, magnesium, and aluminum-plated products.

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Institutional Ownership by Quarter for POSCO (NYSE:PKX)

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