Creative Planning grew its stake in shares of POSCO Holdings Inc. (NYSE:PKX – Free Report) by 12.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,560 shares of the basic materials company’s stock after acquiring an additional 3,095 shares during the quarter. Creative Planning’s holdings in POSCO were worth $2,038,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of POSCO by 17.7% during the 1st quarter. BlackRock Inc. now owns 1,395,026 shares of the basic materials company’s stock valued at $82,683,000 after acquiring an additional 210,190 shares during the last quarter. State Street Corp boosted its holdings in shares of POSCO by 2.7% during the 1st quarter. State Street Corp now owns 848,560 shares of the basic materials company’s stock valued at $59,120,000 after acquiring an additional 22,056 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of POSCO by 4.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 518,706 shares of the basic materials company’s stock valued at $28,254,000 after acquiring an additional 20,996 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of POSCO by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 371,615 shares of the basic materials company’s stock valued at $22,026,000 after acquiring an additional 10,142 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of POSCO by 241.1% in the first quarter. Bank of America Corp DE now owns 279,396 shares of the basic materials company’s stock worth $19,471,000 after buying an additional 197,483 shares during the last quarter. Hedge funds and other institutional investors own 2.95% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently issued reports on PKX. StockNews.com began coverage on shares of POSCO in a report on Thursday, October 5th. They issued a “hold” rating on the stock. UBS Group downgraded shares of POSCO from a “buy” rating to a “neutral” rating in a report on Wednesday, July 26th. Citigroup downgraded shares of POSCO from a “buy” rating to a “neutral” rating in a report on Monday, July 24th. Finally, Morgan Stanley downgraded shares of POSCO from an “equal weight” rating to an “underweight” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold”.
POSCO Price Performance
NYSE PKX opened at $95.36 on Thursday. POSCO Holdings Inc. has a 12 month low of $40.15 and a 12 month high of $133.09. The stock has a market cap of $28.85 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 0.61 and a beta of 1.31. The company’s 50 day moving average is $105.65 and its two-hundred day moving average is $87.99. The company has a current ratio of 2.30, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28.
POSCO (NYSE:PKX – Get Free Report) last released its quarterly earnings data on Wednesday, September 6th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter. The firm had revenue of $15.29 billion for the quarter. POSCO had a net margin of 3.59% and a return on equity of 4.56%. As a group, research analysts anticipate that POSCO Holdings Inc. will post 8.79 earnings per share for the current year.
About POSCO
POSCO Holdings Inc, together with its subsidiaries, manufactures and sells iron and steel rolled products in South Korea and internationally. It operates in two segments Steel and Others. The company offers hot and cold rolled steel, steel plates, wire rods, galvanized steel, electrical steel, stainless steel, and titanium.
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