Bank of New York Mellon Corp Purchases 4,173 Shares of KT Co. (NYSE:KT)

Bank of New York Mellon Corp boosted its position in shares of KT Co. (NYSE:KT) by 29.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,181 shares of the technology company’s stock after buying an additional 4,173 shares during the quarter. Bank of New York Mellon Corp’s holdings in KT were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans bought a new stake in shares of KT in the 3rd quarter worth approximately $368,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in KT in the third quarter worth $592,000. Cerity Partners LLC boosted its holdings in KT by 74.6% in the third quarter. Cerity Partners LLC now owns 37,404 shares of the technology company’s stock valued at $575,000 after acquiring an additional 15,980 shares in the last quarter. FMR LLC increased its position in KT by 10.1% during the 3rd quarter. FMR LLC now owns 711,072 shares of the technology company’s stock valued at $10,936,000 after purchasing an additional 65,415 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of KT by 65.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 246,563 shares of the technology company’s stock worth $3,792,000 after purchasing an additional 97,838 shares during the period. Hedge funds and other institutional investors own 18.86% of the company’s stock.

KT Stock Down 0.7 %

Shares of KT stock opened at $17.52 on Friday. KT Co. has a 1 year low of $12.10 and a 1 year high of $18.74. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 0.37 and a beta of 0.95. The company has a 50-day moving average of $17.51 and a 200 day moving average of $16.45. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.04 and a quick ratio of 0.98.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KT. The Goldman Sachs Group upgraded shares of KT from a “neutral” rating to a “buy” rating in a research report on Monday, March 3rd. StockNews.com downgraded KT from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 20th. Finally, UBS Group began coverage on KT in a research note on Wednesday, February 19th. They issued a “buy” rating for the company.

KT Company Profile

KT Corporation provides integrated telecommunications and platform services in Korea and internationally. The company offers mobile voice and data telecommunications services based on 5G, 4G LTE and 3G W-CDMA technology; fixed-line telephone services, including local, domestic long-distance, international long-distance, and voice over Internet protocol telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services; and data communication services, such as fixed-line and leased line services, as well as broadband Internet connection services.