POSCO Holdings Inc. (NYSE:PKX) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its position in POSCO Holdings Inc. (NYSE:PKX - Free Report) by 62.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,003 shares of the basic materials company's stock after selling 77,393 shares during the period. Bank of America Corp DE's holdings in POSCO were worth $2,038,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PKX. R Squared Ltd purchased a new position in shares of POSCO in the 4th quarter worth approximately $46,000. Wilmington Savings Fund Society FSB grew its position in shares of POSCO by 5,312.5% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,165 shares of the basic materials company's stock worth $94,000 after buying an additional 2,125 shares during the last quarter. Van ECK Associates Corp grew its position in shares of POSCO by 32.5% in the 4th quarter. Van ECK Associates Corp now owns 100,956 shares of the basic materials company's stock worth $4,377,000 after buying an additional 24,767 shares during the last quarter. Rhumbline Advisers grew its position in shares of POSCO by 5.4% in the 4th quarter. Rhumbline Advisers now owns 42,462 shares of the basic materials company's stock worth $1,841,000 after buying an additional 2,168 shares during the last quarter. Finally, Altrius Capital Management Inc grew its position in shares of POSCO by 25.2% in the 4th quarter. Altrius Capital Management Inc now owns 153,330 shares of the basic materials company's stock worth $6,648,000 after buying an additional 30,863 shares during the last quarter.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of POSCO from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

POSCO Stock Performance

NYSE:PKX traded up $0.06 during trading hours on Friday, hitting $47.74. 107,834 shares of the company were exchanged, compared to its average volume of 258,767. The stock has a market capitalization of $14.49 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 2.14 and a beta of 1.35. POSCO Holdings Inc. has a 52-week low of $39.40 and a 52-week high of $74.01. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.93 and a quick ratio of 1.35. The company's 50 day moving average price is $45.09 and its 200-day moving average price is $46.40.

POSCO (NYSE:PKX - Get Free Report) last released its earnings results on Thursday, April 24th. The basic materials company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). The company had revenue of $12 billion for the quarter, compared to analysts' expectations of $12.12 billion. POSCO had a return on equity of 1.87% and a net margin of 1.55%. As a group, research analysts forecast that POSCO Holdings Inc. will post 3.74 earnings per share for the current year.

POSCO Profile

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.