POSCO (PKX) Stake Raised by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP lifted its holdings in shares of POSCO (NYSE:PKX) by 0.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,043,763 shares of the basic materials company’s stock after purchasing an additional 3,923 shares during the period. Dimensional Fund Advisors LP owned about 0.95% of POSCO worth $211,233,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brandes Investment Partners LP raised 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 period. Vanguard Group Inc. raised its stake in shares of POSCO by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 717,651 shares of the basic materials company’s stock worth $44,918,000 after purchasing an additional 23,884 shares during the period. Northern Trust Corp raised its stake in POSCO by 12.2% in the 2nd quarter. Northern Trust Corp now owns 643,169 shares of the basic materials company’s stock valued at $40,256,000 after acquiring an additional 69,983 shares during the period. State Street Corp raised its stake in POSCO by 6.8% in the 2nd quarter. State Street Corp now owns 465,450 shares of the basic materials company’s stock valued at $29,131,000 after acquiring an additional 29,780 shares during the period. Finally, Capital Growth Management LP bought a new stake in POSCO in the 3rd quarter valued at about $29,148,000. Institutional investors own 5.39% of the company’s stock.
A number of equities research analysts recently issued reports on PKX shares. Deutsche Bank upgraded POSCO from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. Zacks Investment Research upgraded POSCO from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a research note on Wednesday, October 18th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $82.00.
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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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