Allspring Global Investments Holdings LLC Buys New Position in POSCO Holdings Inc. (NYSE:PKX)

Allspring Global Investments Holdings LLC bought a new stake in shares of POSCO Holdings Inc. (NYSE:PKX) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 699 shares of the basic materials company’s stock, valued at approximately $49,000.

Other hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its stake in POSCO by 917.1% during the 1st quarter. BNP Paribas Financial Markets now owns 61,565 shares of the basic materials company’s stock valued at $4,828,000 after purchasing an additional 55,512 shares during the last quarter. Seven Grand Managers LLC purchased a new stake in POSCO during the 3rd quarter valued at about $1,750,000. Frank Rimerman Advisors LLC purchased a new stake in POSCO during the 2nd quarter valued at about $1,540,000. Altrius Capital Management Inc grew its stake in POSCO by 16.8% during the 2nd quarter. Altrius Capital Management Inc now owns 105,665 shares of the basic materials company’s stock valued at $6,946,000 after purchasing an additional 15,174 shares during the last quarter. Finally, Creative Planning grew its stake in POSCO by 36.8% during the 3rd quarter. Creative Planning now owns 53,801 shares of the basic materials company’s stock valued at $3,766,000 after purchasing an additional 14,485 shares during the last quarter.

POSCO Stock Up 2.1 %

Shares of PKX opened at $62.01 on Tuesday. POSCO Holdings Inc. has a 52 week low of $58.00 and a 52 week high of $98.00. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $18.82 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 0.74 and a beta of 1.44. The stock’s 50-day moving average price is $65.69 and its 200-day moving average price is $67.01.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded POSCO from a “buy” rating to a “hold” rating in a research note on Saturday.

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.