CIBC World Markets Inc. decreased its holdings in shares of POSCO (NYSE:PKX) by 17.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 120,060 shares of the basic materials company’s stock after selling 25,457 shares during the quarter. CIBC World Markets Inc.’s holdings in POSCO were worth $7,515,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Brandes Investment Partners LP increased its stake in shares of POSCO by 1.8% during the 2nd quarter. Brandes Investment Partners LP now owns 936,469 shares of the basic materials company’s stock worth $58,614,000 after purchasing an additional 16,819 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of POSCO by 6.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,971 shares of the basic materials company’s stock worth $1,062,000 after purchasing an additional 960 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of POSCO by 1.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 5,738 shares of the basic materials company’s stock worth $359,000 after purchasing an additional 57 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of POSCO during the 2nd quarter worth $542,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of POSCO by 76.0% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,800 shares of the basic materials company’s stock worth $551,000 after purchasing an additional 3,800 shares during the last quarter. Institutional investors own 5.14% of the company’s stock.

POSCO (NYSE PKX) opened at 73.75 on Friday. POSCO has a 52 week low of $47.45 and a 52 week high of $77.76. The stock’s 50 day moving average is $73.79 and its 200 day moving average is $64.81. The firm has a market cap of $23.60 billion, a price-to-earnings ratio of 13.20 and a beta of 1.12.

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Several research analysts have recently commented on PKX shares. UBS AG upgraded shares of POSCO from a “neutral” rating to a “buy” rating in a research note on Thursday, July 6th. BidaskClub upgraded shares of POSCO from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. CLSA upgraded shares of POSCO from an “underperform” rating to an “outperform” rating in a research note on Thursday, July 20th. Finally, Standpoint Research lowered shares of POSCO from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $64.00.

POSCO 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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Institutional Ownership by Quarter for POSCO (NYSE:PKX)

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