POSCO (NYSE:PKX) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of POSCO (NYSE:PKX) from a hold rating to a sell rating in a research report released on Saturday.

POSCO Stock Down 1.6%

PKX stock opened at $47.71 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.35 and a debt-to-equity ratio of 0.24. POSCO has a twelve month low of $39.40 and a twelve month high of $74.01. The company’s 50 day moving average is $45.65 and its two-hundred day moving average is $46.05. The stock has a market cap of $14.48 billion, a P/E ratio of 21.88, a PEG ratio of 2.14 and a beta of 1.35.

POSCO (NYSE:PKX) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.05). POSCO had a return on equity of 1.87% and a net margin of 1.55%. The company had revenue of $12 billion for the quarter, compared to analyst estimates of $12.12 billion. Research analysts expect that POSCO will post 3.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On POSCO

A number of hedge funds have recently modified their holdings of PKX. Van ECK Associates Corp grew its position in shares of POSCO by 32.5% during the fourth quarter. Van ECK Associates Corp now owns 100,956 shares of the basic materials company’s stock worth $4,377,000 after acquiring an additional 24,767 shares during the last quarter. Rhumbline Advisers grew its position in shares of POSCO by 5.4% during the fourth quarter. Rhumbline Advisers now owns 42,462 shares of the basic materials company’s stock worth $1,841,000 after acquiring an additional 2,168 shares during the last quarter. Altrius Capital Management Inc grew its position in shares of POSCO by 25.2% during the fourth quarter. Altrius Capital Management Inc now owns 153,330 shares of the basic materials company’s stock worth $6,648,000 after acquiring an additional 30,863 shares during the last quarter. US Bancorp DE grew its position in shares of POSCO by 10.4% during the fourth quarter. US Bancorp DE now owns 10,132 shares of the basic materials company’s stock worth $439,000 after acquiring an additional 952 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new position in shares of POSCO during the fourth quarter worth approximately $405,000.

About POSCO

POSCO Holdings Inc, together with its subsidiaries, operates as an integrated steel producer in Korea and internationally. It operates through six segments: Steel, Trading, Construction, Logistics and Others, Green Materials and Energy, and Others. The company engages in the production, import, sale, and export of steel products, such as hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets, as well as pig iron, billets, blooms, and slabs; trading of steel and raw materials, textiles, agricultural commodities, and other goods; natural resources development and power generation activities; and planning, designing, and construction of industrial plants, civil engineering projects, and commercial and residential buildings.