Thornburg Investment Management Inc. Trims Stock Holdings in POSCO Holdings Inc. (NYSE:PKX)

Thornburg Investment Management Inc. cut its position in shares of POSCO Holdings Inc. (NYSE:PKX - Free Report) by 46.5% in the fourth quarter, according to the company in its most recent disclosure 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 period. Thornburg Investment Management Inc.'s holdings in POSCO were worth $666,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PKX. Parvin Asset Management LLC bought a new position in POSCO during the fourth quarter valued at approximately $29,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in POSCO during the fourth quarter valued at approximately $41,000. R Squared Ltd bought a new position in POSCO during the fourth quarter valued at approximately $46,000. Wilmington Savings Fund Society FSB raised its position in 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 raised its position in 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 Up 0.1%

PKX stock traded up $0.02 during midday trading on Friday, reaching $42.77. 174,834 shares of the company traded hands, compared to its average volume of 256,699. 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 quick ratio of 1.35 and a current ratio of 1.93. The business has a 50 day moving average of $46.21 and a 200-day moving average of $46.89. The firm has a market capitalization of $12.98 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 2.14 and a beta of 1.36.

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). POSCO had a net margin of 1.55% and a return on equity of 1.87%. The company had revenue of $12 billion for the quarter, compared to analysts' expectations of $12.12 billion. As a group, sell-side analysts expect that POSCO Holdings Inc. will post 3.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.