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

StockNews.com upgraded shares of POSCO (NYSE:PKX) from a hold rating to a buy rating in a research report released on Thursday morning.

POSCO Price Performance

PKX opened at $70.13 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.11 and a quick ratio of 1.48. The business has a fifty day simple moving average of $79.50 and a 200-day simple moving average of $85.10. POSCO has a fifty-two week low of $67.42 and a fifty-two week high of $133.09.

POSCO (NYSE:PKX) last released its quarterly earnings data on Wednesday, February 21st. The basic materials company reported ($0.52) earnings per share for the quarter. The company had revenue of $14.15 billion for the quarter. POSCO had a return on equity of 3.02% and a net margin of 2.45%. On average, equities analysts predict that POSCO will post 4.79 earnings per share for the current year.

POSCO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 1st will be given a $0.4726 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.89 annualized dividend and a dividend yield of 2.70%. POSCO’s dividend payout ratio (DPR) is presently 31.30%.

Institutional Trading of POSCO

Several hedge funds and other institutional investors have recently modified their holdings of the business. Ballentine Partners LLC boosted its position in shares of POSCO by 13.8% in the first quarter. Ballentine Partners LLC now owns 5,261 shares of the basic materials company’s stock worth $413,000 after buying an additional 636 shares during the period. GAMMA Investing LLC boosted its position in shares of POSCO by 50.7% in the first quarter. GAMMA Investing LLC now owns 419 shares of the basic materials company’s stock worth $33,000 after buying an additional 141 shares during the period. CWM LLC boosted its position in shares of POSCO by 25.4% in the first quarter. CWM LLC now owns 1,631 shares of the basic materials company’s stock worth $128,000 after buying an additional 330 shares during the period. Confluence Investment Management LLC purchased a new stake in shares of POSCO during the first quarter worth $489,000. Finally, Nomura Holdings Inc. purchased a new stake in shares of POSCO during the fourth quarter worth $2,810,000.

About POSCO

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