POSCO (NYSE:PKX) Cut to “Hold” at StockNews.com

POSCO (NYSE:PKX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

POSCO Stock Performance

Shares of POSCO stock opened at $43.36 on Thursday. The firm has a 50 day simple moving average of $51.52 and a 200 day simple moving average of $60.71. POSCO has a fifty-two week low of $42.74 and a fifty-two week high of $93.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.03 and a quick ratio of 1.45. The firm has a market cap of $13.16 billion, a P/E ratio of 15.21, a P/E/G ratio of 0.58 and a beta of 1.38.

Hedge Funds Weigh In On POSCO

Several large investors have recently made changes to their positions in the company. Jane Street Group LLC boosted its stake in POSCO by 2,229.6% in the third quarter. Jane Street Group LLC now owns 80,160 shares of the basic materials company’s stock valued at $5,610,000 after acquiring an additional 76,719 shares during the last quarter. Athos Capital Ltd bought a new position in shares of POSCO in the 3rd quarter worth $11,373,000. Janus Henderson Group PLC acquired a new stake in shares of POSCO during the third quarter worth $3,497,000. Seven Grand Managers LLC bought a new stake in POSCO in the third quarter valued at about $1,750,000. Finally, Creative Planning lifted its stake in POSCO by 36.8% in the third quarter. Creative Planning now owns 53,801 shares of the basic materials company’s stock valued at $3,766,000 after buying an additional 14,485 shares during the period.

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.