State Street Corp grew its holdings in POSCO (NYSE:PKX) by 6.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 465,450 shares of the basic materials company’s stock after purchasing an additional 29,780 shares during the quarter. State Street Corp owned approximately 0.15% of POSCO worth $29,131,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Strategic Global Advisors LLC raised its holdings in shares of POSCO by 0.3% in the 2nd quarter. Strategic Global Advisors LLC now owns 4,306 shares of the basic materials company’s stock valued at $270,000 after purchasing an additional 15 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of POSCO in the 2nd quarter valued at about $293,000. OxFORD Asset Management LLP bought a new stake in shares of POSCO in the 2nd quarter valued at about $348,000. Oppenheimer & Co. Inc. raised its holdings in shares of POSCO by 1.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 5,738 shares of the basic materials company’s stock valued at $359,000 after purchasing an additional 57 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of POSCO by 3.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 6,170 shares of the basic materials company’s stock valued at $386,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 5.14% of the company’s stock.
POSCO (PKX) opened at $72.03 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.58 and a quick ratio of 1.06. POSCO has a 12-month low of $50.37 and a 12-month high of $77.76. The stock has a market cap of $23,048.74, a P/E ratio of 12.91, a PEG ratio of 1.72 and a beta of 1.12.
A number of brokerages have recently issued reports on PKX. Standpoint Research downgraded shares of POSCO from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Zacks Investment Research raised shares of POSCO from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a research report on Wednesday, October 18th. CLSA raised shares of POSCO from an “underperform” rating to an “outperform” rating in a research report on Thursday, July 20th. Finally, BidaskClub downgraded shares of POSCO from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 12th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $82.00.
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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