Lighthouse Investment Partners LLC Sells 37,140 Shares of POSCO Holdings Inc. (NYSE:PKX)

Lighthouse Investment Partners LLC lessened its stake in POSCO Holdings Inc. (NYSE:PKX - Free Report) by 63.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,000 shares of the basic materials company's stock after selling 37,140 shares during the quarter. Lighthouse Investment Partners LLC's holdings in POSCO were worth $911,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. raised its stake 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 valued at $16,672,000 after purchasing an additional 63,336 shares in the last quarter. Ovata Capital Management Ltd acquired a new position in POSCO in the fourth quarter valued at about $4,791,000. Northern Trust Corp raised its stake in POSCO by 157.0% in 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 in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in POSCO by 34.9% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 41,319 shares of the basic materials company's stock valued at $1,792,000 after purchasing an additional 10,696 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in POSCO by 8.2% in the fourth quarter. American Century Companies Inc. now owns 369,394 shares of the basic materials company's stock valued at $16,017,000 after purchasing an additional 28,124 shares in the last quarter.

POSCO Price Performance

PKX stock traded down $1.22 during midday trading on Tuesday, reaching $43.53. The company had a trading volume of 51,525 shares, compared to its average volume of 253,609. The company has a market capitalization of $13.21 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 2.14 and a beta of 1.36. The stock has a 50 day moving average price of $46.98 and a 200-day moving average price of $47.28. POSCO Holdings Inc. has a 1-year low of $39.40 and a 1-year high of $74.33. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.93 and a quick ratio of 1.35.

POSCO (NYSE:PKX - Get Free Report) last released its 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 net margin of 1.55% and a return on equity of 1.87%. The business had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.12 billion. Equities research analysts expect that POSCO Holdings Inc. will post 3.74 earnings per share for the current 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.