Voloridge Investment Management LLC Takes $3.52 Million Position in POSCO Holdings Inc. (NYSE:PKX)

Voloridge Investment Management LLC acquired a new position in shares of POSCO Holdings Inc. (NYSE:PKX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 81,081 shares of the basic materials company's stock, valued at approximately $3,516,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PKX. Parvin Asset Management LLC purchased a new position in shares of POSCO during the fourth quarter worth about $29,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of POSCO during the fourth quarter worth about $41,000. R Squared Ltd purchased a new stake in POSCO in the fourth quarter worth approximately $46,000. Wilmington Savings Fund Society FSB boosted its stake in POSCO by 5,312.5% in the fourth 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 in the last quarter. Finally, Avior Wealth Management LLC boosted its stake 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 in the last quarter.

Analyst Ratings Changes

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

POSCO Price Performance

PKX traded down $0.78 during midday trading on Friday, hitting $45.64. The stock had a trading volume of 237,691 shares, compared to its average volume of 258,773. The company has a market cap of $13.85 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 2.14 and a beta of 1.36. The business has a fifty day moving average of $45.41 and a 200 day moving average of $46.48. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.93. POSCO Holdings Inc. has a 1 year low of $39.40 and a 1 year high of $74.01.

POSCO (NYSE:PKX - Get Free Report) last issued 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). The firm had revenue of $12 billion during 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, equities analysts forecast that POSCO Holdings Inc. will post 3.74 earnings per share for the current fiscal year.

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.