POSCO (NYSE:PKX) Sees Strong Trading Volume – Time to Buy?

POSCO Holdings Inc. (NYSE:PKX) shares saw strong trading volume on Wednesday . 60,590 shares were traded during mid-day trading, a decline of 58% from the previous session’s volume of 144,992 shares.The stock last traded at $53.54 and had previously closed at $53.93.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded POSCO from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th.

POSCO Stock Performance

The stock has a 50 day moving average of $61.81 and a 200 day moving average of $64.81. 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 firm has a market cap of $16.27 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 0.67 and a beta of 1.44.

Institutional Trading of POSCO

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Seven Grand Managers LLC bought a new stake in POSCO during the third quarter worth $1,750,000. CWM LLC boosted its stake in POSCO by 22.9% in the second quarter. CWM LLC now owns 2,004 shares of the basic materials company’s stock valued at $132,000 after buying an additional 373 shares in the last quarter. Creative Planning grew its position in POSCO by 36.8% in the third quarter. Creative Planning now owns 53,801 shares of the basic materials company’s stock valued at $3,766,000 after acquiring an additional 14,485 shares during the last quarter. GAMMA Investing LLC raised its stake in POSCO by 138.0% during the third quarter. GAMMA Investing LLC now owns 871 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 505 shares in the last quarter. Finally, Altrius Capital Management Inc lifted its holdings in shares of POSCO by 15.9% in the third quarter. Altrius Capital Management Inc now owns 122,467 shares of the basic materials company’s stock worth $8,571,000 after acquiring an additional 16,802 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.