Sequoia Financial Advisors LLC Increases Stake in POSCO $PKX

Sequoia Financial Advisors LLC raised its position in shares of POSCO (NYSE:PKX) by 28.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,420 shares of the basic materials company’s stock after purchasing an additional 10,812 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in POSCO were worth $2,488,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PKX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of POSCO in the fourth quarter worth approximately $25,000. 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 worth $34,000 after acquiring an additional 232 shares during the last quarter. Headlands Technologies LLC lifted its position 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 in the last quarter. Inspire Investing LLC bought a new position in POSCO in the 4th quarter valued at approximately $85,000. Finally, Raymond James Financial Inc. purchased a new stake in POSCO during the 2nd quarter valued at $95,000.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PKX shares. Wall Street Zen raised POSCO from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Weiss Ratings downgraded POSCO from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 18th. Finally, Zacks Research raised POSCO from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

POSCO Stock Up 0.0%

Shares of POSCO stock opened at $62.95 on Monday. The company has a market cap of $19.04 billion, a price-to-earnings ratio of 23.85 and a beta of 1.60. The company’s 50 day moving average is $56.12 and its 200 day moving average is $62.08. POSCO has a twelve month low of $44.99 and a twelve month high of $92.40. The company has a quick ratio of 1.37, a current ratio of 1.98 and a debt-to-equity ratio of 0.30.

POSCO (NYSE:PKX) last posted its earnings results on Thursday, July 30th. The basic materials company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.45. POSCO had a net margin of 1.79% and a return on equity of 1.99%. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $11.96 billion. Research analysts anticipate that POSCO will post 4.91 EPS for the current year.

About POSCO

POSCO is a South Korean steel producer and one of the world’s major integrated steelmakers. The company traces its origins to 1968, when it was established as Pohang Iron and Steel Company, and it developed large-scale steelmaking operations in Pohang and Gwangyang, South Korea.

Its products include hot- and cold-rolled steel, plate, wire rod, stainless steel, electrical steel and other specialty materials used in automobiles, construction, shipbuilding, energy infrastructure, appliances and industrial equipment.