Mackenzie Financial Corp decreased its position in shares of POSCO (NYSE:PKX) by 16.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,258 shares of the basic materials company’s stock after selling 1,406 shares during the period. Mackenzie Financial Corp’s holdings in POSCO were worth $567,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. bought a new position in shares of POSCO during the 4th quarter worth about $204,000. Wealthsource Partners LLC bought a new position in shares of POSCO during the 3rd quarter worth about $224,000. Eagle Asset Management Inc. bought a new position in shares of POSCO during the 3rd quarter worth about $265,000. BNP Paribas Arbitrage SA increased its holdings in shares of POSCO by 44.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,867 shares of the basic materials company’s stock worth $407,000 after purchasing an additional 1,796 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of POSCO by 17.8% during the 3rd quarter. Sei Investments Co. now owns 7,083 shares of the basic materials company’s stock worth $492,000 after purchasing an additional 1,072 shares during the period. 5.27% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the stock. ValuEngine upgraded shares of POSCO from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded shares of POSCO from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a report on Monday, January 15th. Goldman Sachs Group upgraded shares of POSCO from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Finally, Deutsche Bank upgraded shares of POSCO from a “hold” rating to a “buy” rating in a report on Monday, December 4th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $98.00.
POSCO (NYSE PKX) opened at $82.28 on Tuesday. POSCO has a twelve month low of $56.48 and a twelve month high of $93.12. The company has a current ratio of 1.64, a quick ratio of 1.12 and a debt-to-equity ratio of 0.21. The stock has a market cap of $26,162.22, a PE ratio of 12.64, a PEG ratio of 1.70 and a beta of 1.29.
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POSCO Company Profile
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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