Schwab Charles Investment Management Inc. Increases Stake in POSCO (NYSE:PKX)

Schwab Charles Investment Management Inc. increased its stake in POSCO (NYSE:PKX) by 11.5% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 153,205 shares of the basic materials company’s stock after buying an additional 15,785 shares during the period. Schwab Charles Investment Management Inc.’s holdings in POSCO were worth $9,882,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its position in POSCO by 0.4% in the first quarter. Bank of Montreal Can now owns 13,920 shares of the basic materials company’s stock valued at $898,000 after buying an additional 49 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in POSCO by 0.8% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 10,978 shares of the basic materials company’s stock valued at $708,000 after buying an additional 85 shares during the last quarter. Strategic Global Advisors LLC boosted its position in POSCO by 3.9% in the first quarter. Strategic Global Advisors LLC now owns 4,291 shares of the basic materials company’s stock valued at $277,000 after buying an additional 162 shares during the last quarter. Stifel Financial Corp boosted its position in POSCO by 1.2% in the first quarter. Stifel Financial Corp now owns 14,359 shares of the basic materials company’s stock valued at $926,000 after buying an additional 169 shares during the last quarter. Finally, Comerica Bank boosted its position in POSCO by 1.3% in the first quarter. Comerica Bank now owns 20,655 shares of the basic materials company’s stock valued at $1,220,000 after buying an additional 255 shares during the last quarter. 5.99% of the stock is owned by hedge funds and other institutional investors.

POSCO (NYSE:PKX) traded up 0.96% on Friday, hitting $72.54. The stock had a trading volume of 135,211 shares. The company’s 50-day moving average is $70.93 and its 200-day moving average is $63.32. POSCO has a one year low of $47.45 and a one year high of $76.04. The stock has a market cap of $23.21 billion, a P/E ratio of 14.51 and a beta of 1.13.

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Several research analysts have recently issued reports on the company. BidaskClub cut POSCO from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 12th. Standpoint Research cut POSCO from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. CLSA raised POSCO from an “underperform” rating to an “outperform” rating in a research report on Thursday, July 20th. Finally, UBS AG raised POSCO from a “neutral” rating to a “buy” rating in a research report on Thursday, July 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $64.00.

About POSCO

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.

Institutional Ownership by Quarter for POSCO (NYSE:PKX)

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