POSCO (NYSE:PKX) Reaches New 52-Week Low – What’s Next?

by · The Cerbat Gem

Shares of POSCO Holdings Inc. (NYSE:PKX – Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $57.41 and last traded at $57.41, with a volume of 21857 shares trading hands. The stock had previously closed at $61.44.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered POSCO from a “buy” rating to a “hold” rating in a report on Saturday.

Read Our Latest Research Report on PKX

POSCO Price Performance

The firm has a market capitalization of $17.57 billion, a P/E ratio of 20.28, a P/E/G ratio of 0.77 and a beta of 1.44. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average is $65.62 and its 200 day moving average is $66.95.

Institutional Investors Weigh In On POSCO

Hedge funds have recently modified their holdings of the stock. Altrius Capital Management Inc raised its holdings in POSCO by 15.9% during the 3rd quarter. Altrius Capital Management Inc now owns 122,467 shares of the basic materials company’s stock worth $8,571,000 after buying an additional 16,802 shares during the period. Victory Capital Management Inc. raised its holdings in shares of POSCO by 40.6% during the third quarter. Victory Capital Management Inc. now owns 19,863 shares of the basic materials company’s stock valued at $1,390,000 after acquiring an additional 5,731 shares during the period. PDS Planning Inc lifted its position in shares of POSCO by 11.4% in the 3rd quarter. PDS Planning Inc now owns 4,062 shares of the basic materials company’s stock valued at $284,000 after acquiring an additional 416 shares in the last quarter. Ballentine Partners LLC boosted its stake in POSCO by 9.6% in the 3rd quarter. Ballentine Partners LLC now owns 6,710 shares of the basic materials company’s stock worth $470,000 after purchasing an additional 588 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in POSCO during the 3rd quarter worth approximately $49,000.

About POSCO

(Get Free Report)

POSCO Holdings Inc, together with its subsidiaries, operates as an integrated steel producer in Korea and internationally. It operates through six segments: Steel, Trading, Construction, Logistics and Others, Green Materials and Energy, and Others. The company engages in the production, import, sale, and export of steel products, such as hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets, as well as pig iron, billets, blooms, and slabs; trading of steel and raw materials, textiles, agricultural commodities, and other goods; natural resources development and power generation activities; and planning, designing, and construction of industrial plants, civil engineering projects, and commercial and residential buildings.

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