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

Point72 Asset Management L.P. purchased a new stake in shares of POSCO Holdings Inc. (NYSE:PKX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 34,600 shares of the basic materials company's stock, valued at approximately $1,500,000.

A number of other hedge funds have also modified their holdings of the stock. Northern Trust Corp boosted its position in POSCO by 157.0% during the fourth quarter. Northern Trust Corp now owns 429,264 shares of the basic materials company's stock valued at $18,613,000 after purchasing an additional 262,257 shares during the last quarter. Ovata Capital Management Ltd acquired a new stake in shares of POSCO during the 4th quarter valued at about $4,791,000. Cubist Systematic Strategies LLC bought a new stake in shares of POSCO in the 4th quarter valued at approximately $3,801,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in POSCO by 19.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 384,512 shares of the basic materials company's stock worth $16,672,000 after buying an additional 63,336 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in POSCO during the fourth quarter valued at approximately $1,783,000.

POSCO Stock Performance

PKX stock opened at $43.27 on Thursday. The firm has a 50 day moving average of $46.60 and a two-hundred day moving average of $47.23. POSCO Holdings Inc. has a 12 month low of $39.40 and a 12 month high of $74.01. The company has a market capitalization of $13.13 billion, a price-to-earnings ratio of 19.85, a P/E/G ratio of 2.14 and a beta of 1.36. 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 data 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). The business had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.12 billion. POSCO had a return on equity of 1.87% and a net margin of 1.55%. As a group, 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.

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