Thornburg Investment Management Inc. Lowers Position in POSCO Holdings Inc. (NYSE:PKX)

Thornburg Investment Management Inc. reduced its stake in shares of POSCO Holdings Inc. (NYSE:PKX - Free Report) by 46.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,362 shares of the basic materials company's stock after selling 13,361 shares during the quarter. Thornburg Investment Management Inc.'s holdings in POSCO were worth $666,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Parvin Asset Management LLC purchased a new stake in POSCO during the 4th quarter valued at about $29,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in POSCO in the 4th quarter worth approximately $41,000. R Squared Ltd bought a new stake in POSCO in the fourth quarter valued at approximately $46,000. Wilmington Savings Fund Society FSB boosted its stake in shares of POSCO by 5,312.5% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,165 shares of the basic materials company's stock valued at $94,000 after purchasing an additional 2,125 shares during the period. Finally, Avior Wealth Management LLC boosted its stake in shares of POSCO by 49.2% during the fourth quarter. Avior Wealth Management LLC now owns 2,228 shares of the basic materials company's stock valued at $97,000 after purchasing an additional 735 shares during the period.

POSCO Trading Down 1.4%

Shares of NYSE:PKX traded down $0.59 during midday trading on Thursday, hitting $42.71. 161,712 shares of the stock traded hands, compared to its average volume of 254,884. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.24. The business's 50 day moving average is $46.60 and its two-hundred day moving average is $47.23. The stock has a market capitalization of $12.96 billion, a PE ratio of 19.59, a P/E/G ratio of 2.14 and a beta of 1.36. POSCO Holdings Inc. has a one year low of $39.40 and a one year high of $74.01.

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

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of POSCO from a "sell" rating to a "hold" rating in a report on Thursday.

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.