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

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

POSCO Stock Performance

Shares of PKX opened at $52.25 on Wednesday. The stock has a 50-day moving average of $63.84 and a 200-day moving average of $65.67. POSCO has a one year low of $49.37 and a one year high of $96.98. 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 company has a market cap of $15.86 billion, a PE ratio of 18.33, a P/E/G ratio of 0.62 and a beta of 1.44.

Hedge Funds Weigh In On POSCO

A number of large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in POSCO during the 3rd quarter valued at $49,000. GAMMA Investing LLC grew its holdings in shares of POSCO by 138.0% during the third quarter. GAMMA Investing LLC now owns 871 shares of the basic materials company’s stock valued at $61,000 after buying an additional 505 shares during the last quarter. CWM LLC increased its position in shares of POSCO by 22.9% during the second quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock worth $132,000 after acquiring an additional 373 shares in the last quarter. Choreo LLC acquired a new stake in shares of POSCO in the 2nd quarter worth about $221,000. Finally, Bayesian Capital Management LP lifted its position in POSCO by 23.7% in the 1st quarter. Bayesian Capital Management LP now owns 3,136 shares of the basic materials company’s stock valued at $246,000 after acquiring an additional 600 shares in the last quarter.

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.