POSCO (PKX) Holdings Reduced by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in POSCO (NYSE:PKX) by 14.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,058 shares of the basic materials company’s stock after selling 1,323 shares during the period. Envestnet Asset Management Inc.’s holdings in POSCO were worth $559,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Barry Investment Advisors LLC purchased a new stake in shares of POSCO during the 3rd quarter valued at $216,000. Eagle Asset Management Inc. purchased a new stake in shares of POSCO during the 3rd quarter valued at $265,000. Strategic Global Advisors LLC grew its stake in shares of POSCO by 0.3% during the 2nd quarter. Strategic Global Advisors LLC now owns 4,306 shares of the basic materials company’s stock valued at $270,000 after buying an additional 15 shares during the period. Marshall Wace North America L.P. purchased a new stake in shares of POSCO during the 2nd quarter valued at $293,000. Finally, Eqis Capital Management Inc. purchased a new stake in shares of POSCO during the 3rd quarter valued at $347,000. 5.37% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on PKX. Zacks Investment Research cut shares of POSCO from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Deutsche Bank raised shares of POSCO from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. POSCO presently has an average rating of “Buy” and a consensus target price of $82.00.

Shares of POSCO (PKX) opened at $78.57 on Friday. POSCO has a 12 month low of $50.37 and a 12 month high of $79.20. The stock has a market cap of $25,093.46, a price-to-earnings ratio of 12.05, a PEG ratio of 1.87 and a beta of 1.12. The company has a current ratio of 1.68, a quick ratio of 1.14 and a debt-to-equity ratio of 0.24.

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POSCO 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.

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Institutional Ownership by Quarter for POSCO (NYSE:PKX)

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