Driehaus Capital Management LLC acquired a new position in POSCO (NYSE:PKX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 35,539 shares of the basic materials company’s stock, valued at approximately $2,777,000.
Other institutional investors have also bought and sold shares of the company. Oppenheimer & Co. Inc. acquired a new position in shares of POSCO during the fourth quarter valued at $204,000. Wealthsource Partners LLC acquired a new position in shares of POSCO during the third quarter valued at $224,000. Signaturefd LLC acquired a new position in shares of POSCO during the fourth quarter valued at $246,000. ETRADE Capital Management LLC acquired a new position in shares of POSCO during the fourth quarter valued at $264,000. Finally, Eagle Asset Management Inc. acquired a new position in shares of POSCO during the third quarter valued at $265,000. 5.27% of the stock is currently owned by institutional investors.
Several equities analysts have recently issued reports on PKX shares. Deutsche Bank raised POSCO from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. Goldman Sachs raised POSCO from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. ValuEngine upgraded POSCO from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research upgraded POSCO from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Monday, January 15th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. POSCO presently has a consensus rating of “Buy” and a consensus price target of $98.00.
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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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