Zacks Investment Research cut shares of Kobe Steel, Ltd. (NASDAQ:KBSTY) from a buy rating to a hold rating in a research note released on Friday.

According to Zacks, “Kobe Steel, Ltd. is a steel manufacturer. The Iron and Steel segment manufactures and sells steel bars, stainless-steel products and titanium products. The company offers welding materials, welding robots, and conducts welding-related consulting business. The Aluminum and Copper segment offers rolled aluminum products, rolled copper products, aluminum alloy products, magnesium alloy products and others. The Machinery segment manufactures and sells various energy, chemical and nuclear power-related equipment. The Engineering segment conducts engineering works and provides new transportation systems. The Kobelco Eco-Solutions provides water treatment plants, chemical and food-related equipment. The Kobelco Construction Machinery segment offers hydraulic and mini excavators. The Kobelco Crane segment provides crawler cranes and rough terrain cranes. The others segment develops and leases real estate. “

Shares of Kobe Steel (NASDAQ:KBSTY) opened at 6.18 on Friday. The stock has a market cap of $4.48 billion and a price-to-earnings ratio of 122.38. The company has a 50 day moving average price of $5.69 and a 200-day moving average price of $4.94. Kobe Steel has a one year low of $3.97 and a one year high of $6.26.

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Kobe Steel Company Profile

Kobe Steel, Ltd. is a steel manufacturer. The Iron and Steel segment manufactures and sells steel bars, stainless-steel products and titanium products. The Welding segment offers welding materials, welding robots, and conducts welding-related consulting business. The Aluminum and Copper segment offers rolled aluminum products, rolled copper products, aluminum alloy products, magnesium alloy products and others.

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