POSCO (NYSE:PKX) Shares Cross Above 200-Day Moving Average – Here’s What Happened

POSCO (NYSE:PKX) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $62.97 and traded as high as $64.74. POSCO shares last traded at $62.6050, with a volume of 256,251 shares trading hands.

Analyst Ratings Changes

PKX has been the topic of several research reports. Weiss Ratings upgraded POSCO from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 22nd. UBS Group upgraded POSCO from a “neutral” rating to a “buy” rating in a report on Monday, April 27th. Zacks Research raised POSCO from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Wall Street Zen upgraded POSCO from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

POSCO Trading Up 0.2%

The stock has a market capitalization of $18.39 billion, a P/E ratio of 35.97 and a beta of 1.52. The stock’s 50 day moving average price is $71.13 and its 200-day moving average price is $63.02. 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 issued its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.12. The company had revenue of $11.88 billion during the quarter, compared to the consensus estimate of $11.75 billion. POSCO had a net margin of 1.19% and a return on equity of 1.34%. As a group, equities research analysts expect that POSCO will post 4.56 earnings per share for the current year.

Institutional Investors Weigh In On POSCO

A number of hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in POSCO in the fourth quarter worth $25,000. Founders Capital Management grew its stake in POSCO by 100.0% during the 3rd quarter. Founders Capital Management now owns 600 shares of the basic materials company’s stock worth $30,000 after buying an additional 300 shares during the last quarter. Allworth Financial LP grew its stake in POSCO by 51.6% during the 3rd quarter. Allworth Financial LP now owns 682 shares of the basic materials company’s stock worth $34,000 after buying an additional 232 shares during the last quarter. Headlands Technologies LLC increased its position in POSCO by 1,276.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,432 shares of the basic materials company’s stock valued at $69,000 after buying an additional 1,328 shares in the last quarter. Finally, Inspire Investing LLC purchased a new stake in POSCO in the fourth quarter valued at about $85,000.

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.