ClariVest Asset Management LLC raised its holdings in shares of POSCO (NYSE:PKX) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,535 shares of the basic materials company’s stock after acquiring an additional 4,300 shares during the period. ClariVest Asset Management LLC’s holdings in POSCO were worth $7,186,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in 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 period. State Street Corp grew its holdings in shares of POSCO by 6.8% during the second quarter. State Street Corp now owns 465,450 shares of the basic materials company’s stock worth $29,131,000 after buying an additional 29,780 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of POSCO by 91.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,814 shares of the basic materials company’s stock worth $426,000 after buying an additional 3,261 shares in the last quarter. Aperio Group LLC grew its holdings in shares of POSCO by 7.5% during the second quarter. Aperio Group LLC now owns 214,905 shares of the basic materials company’s stock worth $13,451,000 after buying an additional 14,908 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of POSCO by 12.2% in the second quarter. Northern Trust Corp now owns 643,169 shares of the basic materials company’s stock valued at $40,256,000 after purchasing an additional 69,983 shares during the period. Institutional investors and hedge funds own 5.39% of the company’s stock.
A number of brokerages recently issued reports on PKX. Zacks Investment Research lowered shares of POSCO from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Deutsche Bank raised shares of POSCO from a “hold” rating to a “buy” rating in a report on Monday. Standpoint Research lowered shares of POSCO from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Finally, BidaskClub cut shares of POSCO from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 12th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $82.00.
POSCO (NYSE PKX) traded up $2.62 during midday trading on Monday, reaching $78.46. 290,089 shares of the company’s stock were exchanged, compared to its average volume of 257,330. The firm has a market capitalization of $24,267.89, a PE ratio of 13.59, a P/E/G ratio of 1.81 and a beta of 1.12. POSCO has a 52 week low of $50.37 and a 52 week high of $79.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.68 and a quick ratio of 1.14.
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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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