Virtu Financial LLC purchased a new position in POSCO (NYSE:PKX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,182 shares of the basic materials company’s stock, valued at approximately $624,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. HPM Partners LLC lifted its position in POSCO by 19.1% in the second quarter. HPM Partners LLC now owns 4,630 shares of the basic materials company’s stock worth $343,000 after buying an additional 744 shares during the last quarter. Bank of Montreal Can increased its stake in POSCO by 4.7% in the second quarter. Bank of Montreal Can now owns 19,364 shares of the basic materials company’s stock worth $1,435,000 after purchasing an additional 867 shares during the period. Greenleaf Trust increased its stake in POSCO by 8.7% in the third quarter. Greenleaf Trust now owns 11,204 shares of the basic materials company’s stock worth $739,000 after purchasing an additional 896 shares during the period. SG Americas Securities LLC increased its stake in POSCO by 50.2% in the third quarter. SG Americas Securities LLC now owns 3,087 shares of the basic materials company’s stock worth $204,000 after purchasing an additional 1,032 shares during the period. Finally, Comerica Bank increased its stake in POSCO by 5.8% in the third quarter. Comerica Bank now owns 20,377 shares of the basic materials company’s stock worth $1,197,000 after purchasing an additional 1,111 shares during the period. Institutional investors own 4.89% of the company’s stock.
PKX stock opened at $54.98 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.14 and a current ratio of 1.67. POSCO has a twelve month low of $52.53 and a twelve month high of $93.12. The firm has a market capitalization of $19.63 billion, a price-to-earnings ratio of 7.09, a price-to-earnings-growth ratio of 1.20 and a beta of 1.34.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, September 28th were paid a $0.361 dividend. The ex-dividend date was Thursday, September 27th. This represents a $1.44 dividend on an annualized basis and a yield of 2.63%. POSCO’s payout ratio is 18.58%.
PKX has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded POSCO from a “sell” rating to a “hold” rating in a research note on Monday, September 24th. Goldman Sachs Group lowered POSCO from a “buy” rating to a “neutral” rating in a research note on Monday, October 8th. Daiwa Capital Markets initiated coverage on POSCO in a research note on Monday, September 10th. They issued an “outperform” rating on the stock. ValuEngine lowered POSCO from a “sell” rating to a “strong sell” rating in a research note on Monday, November 26th. Finally, Morgan Stanley initiated coverage on POSCO in a research note on Wednesday, November 7th. They issued a “weight” rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $98.00.
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POSCO manufactures and sells steel rolled products and plates in South Korea and internationally. It operates through four segments: Steel, Construction, Trading, and Others. The company offers hot and cold rolled steel, steel plates, wire rods, galvanized and electrical galvanized steel, electrical and stainless steel, automotive materials, titanium, magnesium, and aluminum-plated products.
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