Arrowstreet Capital Limited Partnership boosted its position in shares of POSCO (NYSE:PKX) by 62.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,213,494 shares of the basic materials company’s stock after buying an additional 466,318 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.38% of POSCO worth $94,810,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in PKX. Capital Growth Management LP acquired a new stake in POSCO during the third quarter valued at $29,148,000. Assetmark Inc. grew its position in shares of POSCO by 164,689.9% in the third quarter. Assetmark Inc. now owns 163,142 shares of the basic materials company’s stock valued at $11,322,000 after purchasing an additional 163,043 shares during the period. PenderFund Capital Management Ltd. acquired a new stake in shares of POSCO in the fourth quarter valued at about $5,624,000. Point72 Asset Management L.P. acquired a new stake in shares of POSCO in the third quarter valued at about $4,268,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of POSCO in the third quarter valued at about $3,174,000. Institutional investors own 5.27% of the company’s stock.
Several analysts have recently issued reports on the stock. ValuEngine upgraded shares of POSCO from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded shares of POSCO from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research report on Monday, January 15th. Goldman Sachs Group upgraded shares of POSCO from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Finally, Deutsche Bank upgraded shares of POSCO from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $98.00.
POSCO (PKX) opened at $81.87 on Wednesday. The firm has a market cap of $26,242.22, a PE ratio of 12.60, a P/E/G ratio of 1.70 and a beta of 1.29. POSCO has a 52-week low of $56.48 and a 52-week high of $93.12. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.12 and a current ratio of 1.64.
POSCO is a Korea-based company principally engaged in the manufacture and distribution of steel products. The Company operates in four segments: steel, trading, construction, and others. The steel segment includes production of steel products and sale of such products. The trading segment consists of global trading activities of POSCO Daewoo Corporation, exporting and importing a range of steel products that are both obtained from and supplied to it, as well as between other suppliers and purchasers in Korea and overseas.