POSCO (NYSE:PKX) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of POSCO (NYSE:PKX - Free Report) from a buy rating to a hold rating in a report published on Thursday.

POSCO Price Performance

POSCO stock traded down $0.80 on Thursday, reaching $42.56. The company's stock had a trading volume of 243,659 shares, compared to its average volume of 170,894. POSCO has a twelve month low of $42.35 and a twelve month high of $92.42. The company has a market cap of $12.92 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 0.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.45 and a current ratio of 2.03. The business's fifty day moving average price is $51.15 and its 200 day moving average price is $60.58.

Hedge Funds Weigh In On POSCO

Institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of POSCO in the third quarter valued at approximately $2,082,000. Jane Street Group LLC increased its stake in shares of POSCO by 2,229.6% in the 3rd quarter. Jane Street Group LLC now owns 80,160 shares of the basic materials company's stock valued at $5,610,000 after buying an additional 76,719 shares during the period. State Street Corp raised its position in shares of POSCO by 1.6% during the third quarter. State Street Corp now owns 781,503 shares of the basic materials company's stock worth $54,697,000 after acquiring an additional 12,193 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of POSCO by 73.2% during the third quarter. Quantinno Capital Management LP now owns 16,792 shares of the basic materials company's stock valued at $1,175,000 after acquiring an additional 7,095 shares during the period. Finally, Recurrent Investment Advisors LLC boosted its holdings in POSCO by 46.1% in the third quarter. Recurrent Investment Advisors LLC now owns 14,002 shares of the basic materials company's stock valued at $980,000 after acquiring an additional 4,415 shares during the last quarter.

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.