POSCO (NYSE:PKX) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of POSCO (NYSE:PKX - Free Report) from a buy rating to a hold rating in a research note released on Wednesday.

POSCO Stock Performance

Shares of PKX stock traded up $0.34 on Wednesday, hitting $52.59. The company had a trading volume of 221,014 shares, compared to its average volume of 143,821. POSCO has a twelve month low of $49.37 and a twelve month high of $96.98. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 0.27. The firm has a market cap of $15.96 billion, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 0.62 and a beta of 1.44. The company has a 50-day moving average price of $63.84 and a 200-day moving average price of $65.67.

Hedge Funds Weigh In On POSCO

Large investors have recently made changes to their positions in the company. State Street Corp grew its holdings in POSCO by 1.6% in the third quarter. State Street Corp now owns 781,503 shares of the basic materials company's stock valued at $54,697,000 after purchasing an additional 12,193 shares during the period. BNP Paribas Financial Markets grew its stake in POSCO by 32.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 253,054 shares of the basic materials company's stock valued at $17,711,000 after acquiring an additional 61,528 shares during the period. Athos Capital Ltd purchased a new stake in POSCO in the 3rd quarter worth $11,373,000. Maven Securities LTD purchased a new position in POSCO during the third quarter valued at $10,191,000. Finally, Altrius Capital Management Inc grew its position in shares of POSCO by 15.9% in the third quarter. Altrius Capital Management Inc now owns 122,467 shares of the basic materials company's stock valued at $8,571,000 after purchasing an additional 16,802 shares during the period.

POSCO Company Profile

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.