Greenleaf Trust Purchases 2,748 Shares of POSCO (PKX)

Greenleaf Trust boosted its position in POSCO (NYSE:PKX) by 43.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,061 shares of the basic materials company’s stock after buying an additional 2,748 shares during the period. Greenleaf Trust’s holdings in POSCO were worth $567,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Bank of Montreal Can boosted its stake 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 worth $898,000 after buying an additional 49 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in shares of 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 period. Strategic Global Advisors LLC boosted its stake in shares of 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 period. Stifel Financial Corp boosted its stake in shares of 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 period. Finally, Earnest Partners LLC raised its position in POSCO by 1.1% in the first quarter. Earnest Partners LLC now owns 22,036 shares of the basic materials company’s stock valued at $1,421,000 after buying an additional 237 shares in the last quarter. 5.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of POSCO (NYSE:PKX) traded up 2.11% during midday trading on Monday, reaching $71.99. The company’s stock had a trading volume of 198,808 shares. The company’s 50-day moving average price is $69.38 and its 200 day moving average price is $62.82. POSCO has a 1-year low of $47.45 and a 1-year high of $76.04. The firm has a market capitalization of $23.04 billion, a PE ratio of 14.18 and a beta of 1.13.

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Several brokerages recently issued reports on PKX. UBS AG upgraded shares of POSCO from a “neutral” rating to a “buy” rating in a report on Thursday, July 6th. BidaskClub downgraded POSCO from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Standpoint Research downgraded POSCO from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, CLSA raised POSCO from an “underperform” rating to an “outperform” rating in a research report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus 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.