POSCO (NYSE:PKX) Shares Gap Up to $62.26

POSCO Holdings Inc. (NYSE:PKX)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $62.26, but opened at $64.92. POSCO shares last traded at $64.68, with a volume of 7,591 shares.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of POSCO from a “buy” rating to a “hold” rating in a report on Friday, April 26th.

POSCO Trading Up 1.8 %

The company has a quick ratio of 1.42, a current ratio of 2.03 and a debt-to-equity ratio of 0.26. The stock’s 50 day moving average price is $64.91 and its two-hundred day moving average price is $72.16.

POSCO (NYSE:PKX) last posted its earnings results on Thursday, July 25th. The basic materials company reported $1.14 EPS for the quarter. The firm had revenue of $13.50 billion for the quarter. POSCO had a return on equity of 2.21% and a net margin of 1.91%. Research analysts predict that POSCO Holdings Inc. will post 4.7 EPS for the current fiscal year.

Institutional Investors Weigh In On POSCO

Several hedge funds have recently modified their holdings of PKX. Altrius Capital Management Inc boosted its position in POSCO by 16.8% during the second quarter. Altrius Capital Management Inc now owns 105,665 shares of the basic materials company’s stock worth $6,946,000 after purchasing an additional 15,174 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of POSCO by 8.3% during the second quarter. Van ECK Associates Corp now owns 84,420 shares of the basic materials company’s stock worth $5,550,000 after purchasing an additional 6,440 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of POSCO by 917.1% during the 1st quarter. BNP Paribas Financial Markets now owns 61,565 shares of the basic materials company’s stock worth $4,828,000 after purchasing an additional 55,512 shares during the last quarter. Segantii Capital Management Ltd purchased a new position in POSCO in the 4th quarter valued at about $5,543,000. Finally, Marshall Wace LLP boosted its holdings in POSCO by 15.6% in the 2nd quarter. Marshall Wace LLP now owns 39,337 shares of the basic materials company’s stock worth $2,586,000 after buying an additional 5,295 shares during the last quarter.

About POSCO

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.