POSCO (NYSE:PKX) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of POSCO (NYSE:PKXGet Rating) from a hold rating to a buy rating in a research report sent to investors on Monday.

Separately, JPMorgan Chase & Co. lowered POSCO from an overweight rating to a neutral rating in a research note on Monday, October 24th.

POSCO Price Performance

POSCO stock opened at $53.24 on Monday. POSCO has a 52 week low of $36.53 and a 52 week high of $65.11. The business has a 50-day simple moving average of $44.18 and a 200 day simple moving average of $47.32. The company has a quick ratio of 1.33, a current ratio of 2.02 and a debt-to-equity ratio of 0.21. The stock has a market cap of $16.11 billion, a price-to-earnings ratio of 3.89 and a beta of 1.12.

POSCO (NYSE:PKXGet Rating) last posted its earnings results on Thursday, September 15th. The basic materials company reported $3.86 EPS for the quarter. POSCO had a return on equity of 9.30% and a net margin of 6.29%. The business had revenue of $18.41 billion during the quarter.

POSCO Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Thursday, June 30th were paid a dividend of $0.612 per share. This represents a $2.45 annualized dividend and a yield of 4.60%. The ex-dividend date was Wednesday, June 29th. POSCO’s dividend payout ratio (DPR) is currently 17.92%.

Institutional Investors Weigh In On POSCO

Several hedge funds have recently added to or reduced their stakes in PKX. CWM LLC lifted its stake in POSCO by 58.4% during the third quarter. CWM LLC now owns 735 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 271 shares during the last quarter. Ronald Blue Trust Inc. bought a new stake in shares of POSCO in the 2nd quarter valued at about $32,000. Captrust Financial Advisors lifted its stake in shares of POSCO by 56.5% in the 1st quarter. Captrust Financial Advisors now owns 557 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 201 shares during the last quarter. Group One Trading L.P. bought a new stake in shares of POSCO in the 2nd quarter valued at about $40,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of POSCO by 617.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,960 shares of the basic materials company’s stock valued at $88,000 after acquiring an additional 1,687 shares during the last quarter. Institutional investors own 3.56% of the company’s stock.

About POSCO

(Get Rating)

POSCO Holdings Inc, together with its subsidiaries, manufactures and sells steel rolled products and plates in South Korea and internationally. It operates through four segments: Steel, Construction, Trading, and Others. The company offers hot and cold rolled steel, steel plates, wire rods, galvanized sheets, electrical steel, stainless steel, and titanium.

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