Point72 Asset Management L.P. Invests $1.50 Million in POSCO Holdings Inc. (NYSE:PKX)

Point72 Asset Management L.P. bought a new stake in POSCO Holdings Inc. (NYSE:PKX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 34,600 shares of the basic materials company's stock, valued at approximately $1,500,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Crossmark Global Holdings Inc. grew its holdings in shares of POSCO by 4.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 6,257 shares of the basic materials company's stock valued at $271,000 after purchasing an additional 249 shares in the last quarter. Ameritas Advisory Services LLC lifted its position in POSCO by 13.0% in the fourth quarter. Ameritas Advisory Services LLC now owns 5,612 shares of the basic materials company's stock worth $243,000 after buying an additional 645 shares during the last quarter. Parvin Asset Management LLC bought a new stake in POSCO in the fourth quarter worth $29,000. Avior Wealth Management LLC lifted its position in POSCO by 49.2% in the fourth quarter. Avior Wealth Management LLC now owns 2,228 shares of the basic materials company's stock worth $97,000 after buying an additional 735 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in POSCO by 7.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 11,210 shares of the basic materials company's stock worth $486,000 after buying an additional 820 shares during the last quarter.

Analyst Ratings Changes

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

POSCO Trading Up 1.9%

PKX traded up $0.81 during trading on Tuesday, reaching $43.56. The company had a trading volume of 36,582 shares, compared to its average volume of 255,838. The stock has a market cap of $13.22 billion, a P/E ratio of 19.98, a PEG ratio of 2.14 and a beta of 1.36. The business has a 50 day simple moving average of $45.99 and a 200-day simple moving average of $46.70. POSCO Holdings Inc. has a 52 week low of $39.40 and a 52 week high of $74.01. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.24.

POSCO (NYSE:PKX - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). POSCO had a return on equity of 1.87% and a net margin of 1.55%. The company had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.12 billion. On average, equities analysts anticipate that POSCO Holdings Inc. will post 3.74 EPS for the current fiscal 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.