Hsbc Holdings PLC Takes Position in POSCO $PKX

Hsbc Holdings PLC bought a new stake in shares of POSCO (NYSE:PKX) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 64,454 shares of the basic materials company’s stock, valued at approximately $3,126,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. American Century Companies Inc. lifted its stake in POSCO by 19.6% during the second quarter. American Century Companies Inc. now owns 481,595 shares of the basic materials company’s stock worth $23,353,000 after purchasing an additional 78,835 shares during the period. Northern Trust Corp raised its holdings in shares of POSCO by 5.0% in the 1st quarter. Northern Trust Corp now owns 450,873 shares of the basic materials company’s stock worth $21,430,000 after buying an additional 21,609 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of POSCO by 57.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 423,253 shares of the basic materials company’s stock worth $20,117,000 after buying an additional 154,100 shares during the period. Nomura Holdings Inc. acquired a new stake in POSCO in the 1st quarter valued at $7,814,000. Finally, Quadrant Capital Group LLC grew its position in POSCO by 232.2% in the second quarter. Quadrant Capital Group LLC now owns 60,290 shares of the basic materials company’s stock valued at $2,923,000 after acquiring an additional 42,143 shares during the period.

POSCO Stock Performance

POSCO stock opened at $53.08 on Friday. The stock has a 50-day simple moving average of $52.38 and a 200 day simple moving average of $51.92. The stock has a market capitalization of $16.11 billion, a price-to-earnings ratio of 71.74, a P/E/G ratio of 0.37 and a beta of 1.52. The company has a quick ratio of 1.41, a current ratio of 1.96 and a debt-to-equity ratio of 0.25. POSCO has a 12-month low of $39.40 and a 12-month high of $61.24.

POSCO (NYSE:PKX) last posted its quarterly earnings data on Monday, October 27th. The basic materials company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.04. POSCO had a net margin of 0.64% and a return on equity of 0.74%. The firm had revenue of $12.06 billion during the quarter, compared to analysts’ expectations of $12.41 billion. On average, research analysts anticipate that POSCO will post 3.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PKX. Weiss Ratings restated a “hold (c-)” rating on shares of POSCO in a research note on Thursday. UBS Group raised shares of POSCO from a “strong sell” rating to a “hold” rating in a report on Thursday, August 21st. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

POSCO Company Profile

POSCO Holdings Inc, together with its subsidiaries, operates as an integrated steel producer in Korea and internationally. It operates through six segments: Steel, Trading, Construction, Logistics and Others, Green Materials and Energy, and Others. The company engages in the production, import, sale, and export of steel products, such as hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets, as well as pig iron, billets, blooms, and slabs; trading of steel and raw materials, textiles, agricultural commodities, and other goods; natural resources development and power generation activities; and planning, designing, and construction of industrial plants, civil engineering projects, and commercial and residential buildings.