NINE MASTS CAPITAL Ltd purchased a new position in shares of POSCO (NYSE:PKX) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 53,792 shares of the basic materials company’s stock, valued at approximately $3,571,000. POSCO accounts for about 0.9% of NINE MASTS CAPITAL Ltd’s portfolio, making the stock its 22nd largest position.
Other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC lifted its holdings in shares of POSCO by 50.2% during the 3rd quarter. SG Americas Securities LLC now owns 3,087 shares of the basic materials company’s stock worth $204,000 after acquiring an additional 1,032 shares during the period. Capital Fund Management S.A. bought a new stake in shares of POSCO during the 3rd quarter worth approximately $244,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of POSCO during the 2nd quarter worth approximately $274,000. Tower Research Capital LLC TRC bought a new position in POSCO in the 3rd quarter valued at approximately $278,000. Finally, Cynosure Advisors LLC lifted its stake in POSCO by 46.7% in the 2nd quarter. Cynosure Advisors LLC now owns 4,181 shares of the basic materials company’s stock valued at $310,000 after purchasing an additional 1,331 shares during the last quarter. 4.89% of the stock is owned by institutional investors.
Several equities analysts recently commented on the stock. ValuEngine downgraded shares of POSCO from a “sell” rating to a “strong sell” rating in a research note on Monday, November 26th. Morgan Stanley assumed coverage on shares of POSCO in a research note on Wednesday, November 7th. They issued a “weight” rating for the company. Goldman Sachs Group downgraded shares of POSCO from a “buy” rating to a “neutral” rating in a research note on Monday, October 8th. Zacks Investment Research raised shares of POSCO from a “sell” rating to a “hold” rating in a research note on Monday, September 24th. Finally, Daiwa Capital Markets assumed coverage on shares of POSCO in a research note on Monday, September 10th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. POSCO has a consensus rating of “Hold” and an average target price of $98.00.
NYSE:PKX traded down $1.56 on Thursday, hitting $55.40. The company had a trading volume of 1,154 shares, compared to its average volume of 183,773. The company has a market cap of $19.86 billion, a price-to-earnings ratio of 7.35, a PEG ratio of 1.22 and a beta of 1.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.67 and a quick ratio of 1.14. POSCO has a 52 week low of $52.53 and a 52 week high of $93.12.
POSCO (NYSE:PKX) last issued its quarterly earnings data on Tuesday, September 4th. The basic materials company reported $1.56 EPS for the quarter. The business had revenue of $14.96 billion during the quarter. POSCO had a net margin of 4.77% and a return on equity of 6.21%. As a group, analysts expect 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. Investors of record on Friday, September 28th were paid a $0.361 dividend. This represents a $1.44 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Thursday, September 27th. POSCO’s payout ratio is 18.58%.
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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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