Frank Rimerman Advisors LLC Boosts Stock Position in POSCO $PKX

Frank Rimerman Advisors LLC raised its position in POSCO (NYSE:PKX) by 68.7% during the first quarter, Holdings Channel.com reports. The firm owned 37,631 shares of the basic materials company’s stock after buying an additional 15,331 shares during the period. Frank Rimerman Advisors LLC’s holdings in POSCO were worth $2,201,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PKX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of POSCO during the fourth quarter valued at approximately $25,000. Founders Capital Management grew its stake in POSCO by 100.0% in the 3rd quarter. Founders Capital Management now owns 600 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 300 shares during the period. Allworth Financial LP raised its holdings in POSCO by 51.6% in the 3rd quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 232 shares during the last quarter. Headlands Technologies LLC raised its holdings in POSCO by 1,276.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,432 shares of the basic materials company’s stock valued at $69,000 after acquiring an additional 1,328 shares during the last quarter. Finally, Inspire Investing LLC purchased a new position in shares of POSCO during the 4th quarter worth $85,000.

Analysts Set New Price Targets

A number of brokerages have recently commented on PKX. Weiss Ratings downgraded POSCO from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. Wall Street Zen downgraded POSCO from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Zacks Research raised POSCO from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Finally, UBS Group upgraded POSCO from a “neutral” rating to a “buy” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold”.

POSCO Stock Performance

NYSE:PKX opened at $51.35 on Thursday. The company has a market cap of $15.53 billion, a P/E ratio of 30.38 and a beta of 1.57. The firm’s 50 day moving average is $67.49 and its two-hundred day moving average is $62.99. POSCO has a fifty-two week low of $44.99 and a fifty-two week high of $92.40. The company has a quick ratio of 1.30, a current ratio of 1.90 and a debt-to-equity ratio of 0.28.

POSCO (NYSE:PKX) last announced its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.12. The company had revenue of $11.88 billion during the quarter, compared to analysts’ expectations of $11.75 billion. POSCO had a net margin of 1.19% and a return on equity of 1.34%. Analysts expect that POSCO will post 4.43 EPS for the current year.

About POSCO

POSCO (NYSE: PKX) is a South Korea–based integrated steel producer founded in 1968 as Pohang Iron and Steel Company. Headquartered in Pohang, the company grew rapidly as part of South Korea’s industrialization program and developed large, integrated steelworks—most notably in Pohang and Gwangyang—that helped establish POSCO among the world’s largest steelmakers. It is structured as a diversified industrial group with steelmaking at its core and a range of downstream and trading businesses.

The company’s primary activities include ironmaking and steelmaking, producing a wide array of steel products such as hot-rolled and cold-rolled sheets, coated steels, plates, stainless and special steels, long products (bars and wire rods), and seamless pipes.