POSCO (NYSE:PKX) Position Trimmed by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lessened its holdings in shares of POSCO (NYSE:PKX) by 38.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 174,431 shares of the basic materials company’s stock after selling 110,743 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.05% of POSCO worth $10,918,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brandes Investment Partners LP boosted its stake in 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. Vanguard Group Inc. boosted its position 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 valued at $44,918,000 after acquiring an additional 23,884 shares during the last quarter. Northern Trust Corp boosted its position in shares of POSCO by 12.2% during 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 last quarter. State Street Corp boosted its position in shares of POSCO by 9.6% during the 1st quarter. State Street Corp now owns 435,670 shares of the basic materials company’s stock valued at $28,100,000 after acquiring an additional 38,259 shares during the last quarter. Finally, LMR Partners LLP boosted its position in shares of POSCO by 57.0% during the 2nd quarter. LMR Partners LLP now owns 387,825 shares of the basic materials company’s stock valued at $24,321,000 after acquiring an additional 140,787 shares during the last quarter. 5.15% of the stock is currently owned by institutional investors.

Shares of POSCO (PKX) opened at 75.41 on Friday. The firm’s 50-day moving average is $71.63 and its 200-day moving average is $66.99. The stock has a market capitalization of $24.13 billion, a price-to-earnings ratio of 13.41 and a beta of 1.11. POSCO has a 52 week low of $50.37 and a 52 week high of $77.76.

Several brokerages have recently weighed in on PKX. UBS AG raised shares of POSCO from a “neutral” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research raised shares of POSCO from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Wednesday, October 18th. BidaskClub raised shares of POSCO from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. CLSA raised shares of POSCO from an “underperform” rating to an “outperform” rating in a research report on Thursday, July 20th. Finally, Standpoint Research cut shares of POSCO from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $82.00.

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POSCO Company 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.

Institutional Ownership by Quarter for POSCO (NYSE:PKX)

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