POSCO (NYSE:PKX) Shares Cross Above 200 Day Moving Average – Time to Sell?

POSCO (NYSE:PKX)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $53.92 and traded as high as $63.69. POSCO shares last traded at $63.53, with a volume of 171,015 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of POSCO in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

POSCO Stock Up 0.4%

The company has a quick ratio of 1.38, a current ratio of 1.96 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average price of $56.32 and a 200-day moving average price of $53.92.

POSCO (NYSE:PKX) last announced its quarterly earnings results on Thursday, January 29th. The basic materials company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of $0.45 by ($1.06). POSCO had a net margin of 0.97% and a return on equity of 1.09%. The company had revenue of $10.61 billion for the quarter, compared to analysts’ expectations of $11.85 billion. As a group, equities research analysts expect that POSCO will post 3.74 earnings per share for the current fiscal year.

Institutional Trading of POSCO

Hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in POSCO by 14.1% in the third quarter. American Century Companies Inc. now owns 549,699 shares of the basic materials company’s stock valued at $27,051,000 after buying an additional 68,104 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of POSCO by 57.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 423,253 shares of the basic materials company’s stock worth $20,117,000 after acquiring an additional 154,100 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of POSCO by 8.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 259,374 shares of the basic materials company’s stock valued at $12,577,000 after acquiring an additional 19,312 shares during the period. UBS Group AG increased its stake in shares of POSCO by 135.6% in the 4th quarter. UBS Group AG now owns 199,914 shares of the basic materials company’s stock valued at $10,637,000 after purchasing an additional 115,069 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of POSCO in the 3rd quarter valued at about $8,851,000.

About POSCO

POSCO (NYSE: PKX) is a South Korea–based integrated steel producer founded in 1968 as Pohang Iron and Steel Company. Headquartered in Pohang, the company grew rapidly as part of South Korea’s industrialization program and developed large, integrated steelworks—most notably in Pohang and Gwangyang—that helped establish POSCO among the world’s largest steelmakers. It is structured as a diversified industrial group with steelmaking at its core and a range of downstream and trading businesses.

The company’s primary activities include ironmaking and steelmaking, producing a wide array of steel products such as hot-rolled and cold-rolled sheets, coated steels, plates, stainless and special steels, long products (bars and wire rods), and seamless pipes.