Trade Report: Today: Posco (PKX) Upgrade by HSBC to “Buy”

Today: Posco (PKX) Upgrade by HSBC to “Buy”

Posco (NYSE:PKX) was upgraded by analysts at HSBC from a “hold” rating to a “buy” rating in a report released on Monday, The Fly reports.

Other equities analysts have also issued reports about the company. Nomura lowered Posco from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 26th. Zacks Investment Research upgraded Posco from a “sell” rating to a “hold” rating in a research report on Tuesday, September 20th. Finally, lowered Posco from an “outperform” rating to an “underperform” rating in a research report on Tuesday, October 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Posco currently has an average rating of “Hold”.

Shares of Posco (NYSE:PKX) traded down 3.53% during midday trading on Monday, reaching $53.83. The company’s stock had a trading volume of 536,048 shares. Posco has a 12-month low of $30.97 and a 12-month high of $56.26. The company has a market capitalization of $17.49 billion, a P/E ratio of 25.56 and a beta of 1.08. The company’s 50-day moving average price is $52.91 and its 200 day moving average price is $48.90.

A number of large investors have recently modified their holdings of the stock. Advisors Asset Management Inc. boosted its stake in shares of Posco by 0.8% in the second quarter. Advisors Asset Management Inc. now owns 6,447 shares of the company’s stock valued at $287,000 after buying an additional 49 shares in the last quarter. Sei Investments Co. boosted its stake in Posco by 0.5% in the third quarter. Sei Investments Co. now owns 31,398 shares of the company’s stock valued at $1,604,000 after buying an additional 148 shares during the period. Stifel Financial Corp boosted its stake in Posco by 1.2% in the second quarter. Stifel Financial Corp now owns 14,215 shares of the company’s stock valued at $632,000 after buying an additional 163 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in Posco by 2.2% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 11,951 shares of the company’s stock valued at $532,000 after buying an additional 261 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in Posco by 0.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 45,017 shares of the company’s stock valued at $1,980,000 after buying an additional 317 shares during the period. Institutional investors own 5.43% of the company’s stock.

About Posco

POSCO is an integrated steel producer. The Company operates in four segments: steel, trading, engineering and 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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