Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of POSCO (NYSE:PKX) by 76.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,800 shares of the basic materials company’s stock after buying an additional 3,800 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in POSCO were worth $551,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Rational Advisors LLC grew its holdings in POSCO by 100.0% in the first quarter. Rational Advisors LLC now owns 1,800 shares of the basic materials company’s stock valued at $116,000 after purchasing an additional 900 shares during the period. MAVEN SECURITIES Ltd purchased a new stake in POSCO in the first quarter valued at approximately $187,000. Raymond James Financial Services Advisors Inc. purchased a new stake in POSCO in the first quarter valued at approximately $229,000. Teza Capital Management LLC purchased a new stake in POSCO in the first quarter valued at approximately $237,000. Finally, Wealthsource Partners LLC purchased a new stake in POSCO in the first quarter valued at approximately $252,000. Institutional investors and hedge funds own 5.14% of the company’s stock.
POSCO (NYSE PKX) opened at 73.75 on Monday. The firm has a market capitalization of $23.60 billion, a PE ratio of 13.20 and a beta of 1.12. The firm’s 50-day moving average is $73.79 and its 200-day moving average is $64.81. POSCO has a 12 month low of $47.45 and a 12 month high of $77.76.
A number of equities research analysts recently issued reports on the stock. BidaskClub downgraded shares of POSCO from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 12th. UBS AG upgraded shares of POSCO from a “neutral” rating to a “buy” rating in a report on Thursday, July 6th. Standpoint Research downgraded shares of POSCO from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Finally, CLSA upgraded shares of POSCO from an “underperform” rating to an “outperform” rating in a report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $64.00.
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POSCO Company Profile
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.
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