Oppenheimer & Co. Inc. boosted its stake in POSCO (NYSE:PKX) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,738 shares of the basic materials company’s stock after acquiring an additional 57 shares during the period. Oppenheimer & Co. Inc.’s holdings in POSCO were worth $359,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. MAVEN SECURITIES Ltd purchased a new stake in POSCO in the first quarter valued at $187,000. Raymond James Financial Services Advisors Inc. purchased a new stake in POSCO in the first quarter valued at $229,000. BNP Paribas Arbitrage SA lifted its position in POSCO by 39.2% in the first quarter. BNP Paribas Arbitrage SA now owns 4,074 shares of the basic materials company’s stock valued at $263,000 after acquiring an additional 1,147 shares during the last quarter. Strategic Global Advisors LLC lifted its position in POSCO by 3.9% in the first quarter. Strategic Global Advisors LLC now owns 4,291 shares of the basic materials company’s stock valued at $277,000 after acquiring an additional 162 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in POSCO in the second quarter valued at $293,000. 5.14% of the stock is owned by hedge funds and other institutional investors.
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PKX has been the subject of a number of research reports. UBS AG raised shares of POSCO from a “neutral” rating to a “buy” rating in a research report on Thursday, July 6th. BidaskClub cut shares of POSCO from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 12th. Standpoint Research cut shares of POSCO from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, CLSA raised shares of POSCO from an “underperform” rating to an “outperform” rating in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $64.00.
Shares of POSCO (PKX) opened at 69.64 on Friday. The stock has a market capitalization of $22.28 billion, a PE ratio of 12.22 and a beta of 1.12. The company has a 50-day moving average of $73.74 and a 200-day moving average of $65.19. POSCO has a 12 month low of $48.56 and a 12 month high of $77.76.
POSCO Company Profile
POSCO is a Korea-based company principally engaged in the manufacture and distribution of steel products. The Company operates in four segments: steel, trading, construction, and others. The steel segment includes production of steel products and sale of such products. The trading segment consists of global trading activities of POSCO Daewoo Corporation, exporting and importing a range of steel products that are both obtained from and supplied to it, as well as between other suppliers and purchasers in Korea and overseas.
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