UBS Asset Management Americas Inc. reduced its holdings in POSCO (NYSE:PKX) by 11.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,100 shares of the basic materials company’s stock after selling 5,700 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in POSCO were worth $3,524,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Capital Growth Management LP acquired a new position in shares of POSCO during the 3rd quarter worth about $29,148,000. Assetmark Inc. increased its holdings in shares of POSCO by 164,689.9% during the third quarter. Assetmark Inc. now owns 163,142 shares of the basic materials company’s stock worth $11,322,000 after purchasing an additional 163,043 shares during the period. PenderFund Capital Management Ltd. bought a new position in shares of POSCO during the fourth quarter worth approximately $5,624,000. Point72 Asset Management L.P. bought a new position in shares of POSCO during the third quarter worth approximately $4,268,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in POSCO in the third quarter valued at approximately $3,174,000. 5.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of POSCO stock traded down $3.26 during mid-day trading on Thursday, hitting $77.52. 103,051 shares of the company were exchanged, compared to its average volume of 241,983. The stock has a market cap of $25,224.65, a PE ratio of 12.11, a P/E/G ratio of 1.64 and a beta of 1.29. POSCO has a 12 month low of $56.48 and a 12 month high of $93.12. The company has a quick ratio of 1.12, a current ratio of 1.64 and a debt-to-equity ratio of 0.21.
A number of analysts have weighed in on the stock. ValuEngine upgraded shares of POSCO from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research raised shares of POSCO from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research note on Monday, January 15th. Goldman Sachs raised shares of POSCO from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Finally, Deutsche Bank raised shares of POSCO from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $98.00.
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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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