POSCO (NYSE:PKX) Raised to Buy at StockNews.com

StockNews.com upgraded shares of POSCO (NYSE:PKXFree Report) from a hold rating to a buy rating in a research note published on Thursday morning.

POSCO Stock Up 0.7 %

POSCO stock opened at $70.59 on Thursday. The company’s fifty day simple moving average is $79.21 and its 200-day simple moving average is $84.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.48 and a current ratio of 2.11. POSCO has a 12 month low of $67.42 and a 12 month high of $133.09.

POSCO (NYSE:PKXGet Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The basic materials company reported ($0.52) EPS for the quarter. POSCO had a net margin of 2.45% and a return on equity of 3.02%. The company had revenue of $14.15 billion for the quarter. On average, sell-side analysts predict that POSCO will post 4.79 earnings per share for the current fiscal year.

POSCO Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 1st will be paid a $0.4726 dividend. This represents a $1.89 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Thursday, March 28th. POSCO’s payout ratio is presently 31.30%.

Institutional Investors Weigh In On POSCO

Several institutional investors and hedge funds have recently modified their holdings of PKX. Goldman Sachs Group Inc. lifted its stake in shares of POSCO by 80.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 814,824 shares of the basic materials company’s stock valued at $60,256,000 after purchasing an additional 364,373 shares during the last quarter. BlackRock Inc. lifted its position in POSCO by 21.5% during the 1st quarter. BlackRock Inc. now owns 1,209,685 shares of the basic materials company’s stock worth $84,303,000 after acquiring an additional 213,746 shares during the last quarter. Bank of America Corp DE lifted its position in POSCO by 241.1% during the 1st quarter. Bank of America Corp DE now owns 279,396 shares of the basic materials company’s stock worth $19,471,000 after acquiring an additional 197,483 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in POSCO by 264.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 195,275 shares of the basic materials company’s stock worth $4,441,000 after acquiring an additional 141,765 shares during the last quarter. Finally, State Street Corp lifted its position in POSCO by 10.8% during the 2nd quarter. State Street Corp now owns 824,393 shares of the basic materials company’s stock worth $36,702,000 after acquiring an additional 80,594 shares during the last quarter.

POSCO Company Profile

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for POSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for POSCO and related companies with MarketBeat.com's FREE daily email newsletter.