POSCO (NYSE:PKX) Stock Passes Above 200 Day Moving Average – Here’s What Happened

POSCO (NYSE:PKX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $62.44 and traded as high as $67.48. POSCO shares last traded at $66.7270, with a volume of 568,047 shares traded.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wall Street Zen raised POSCO from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Weiss Ratings raised POSCO from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, April 22nd. UBS Group raised POSCO from a “neutral” rating to a “buy” rating in a research report on Monday, April 27th. Finally, Zacks Research downgraded POSCO from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

POSCO Trading Down 2.6%

The company has a market cap of $20.18 billion, a P/E ratio of 39.48 and a beta of 1.52. The business has a fifty day moving average price of $70.31 and a 200-day moving average price of $62.44. The company has a quick ratio of 1.29, a current ratio of 1.90 and a debt-to-equity ratio of 0.28.

POSCO (NYSE:PKX) last issued its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.12. POSCO had a return on equity of 1.34% and a net margin of 1.19%.The company had revenue of $11.88 billion during the quarter, compared to analysts’ expectations of $11.75 billion. On average, analysts forecast that POSCO will post 4.56 earnings per share for the current year.

Institutional Investors Weigh In On POSCO

A number of institutional investors have recently made changes to their positions in PKX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of POSCO during the fourth quarter worth approximately $25,000. Founders Capital Management boosted its holdings in shares of POSCO by 100.0% during the third quarter. Founders Capital Management now owns 600 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 300 shares during the period. Allworth Financial LP boosted its holdings in shares of POSCO by 51.6% during the third quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 232 shares during the period. Headlands Technologies LLC boosted its holdings in shares of POSCO by 1,276.9% during the second quarter. Headlands Technologies LLC now owns 1,432 shares of the basic materials company’s stock worth $69,000 after acquiring an additional 1,328 shares during the period. Finally, Inspire Investing LLC bought a new stake in shares of POSCO during the fourth quarter worth approximately $85,000.

POSCO Company Profile

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.