Segantii Capital Management Ltd Buys New Shares in POSCO Holdings Inc. (NYSE:PKX)

Segantii Capital Management Ltd purchased a new position in shares of POSCO Holdings Inc. (NYSE:PKX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 57,700 shares of the basic materials company's stock, valued at approximately $5,543,000.

Several other large investors have also made changes to their positions in PKX. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of POSCO by 6.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 303,046 shares of the basic materials company's stock worth $31,062,000 after purchasing an additional 19,057 shares during the period. American Century Companies Inc. increased its position in shares of POSCO by 9.5% in the third quarter. American Century Companies Inc. now owns 271,763 shares of the basic materials company's stock worth $27,856,000 after acquiring an additional 23,668 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of POSCO by 12.5% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 80,320 shares of the basic materials company's stock valued at $8,233,000 after acquiring an additional 8,903 shares during the period. Van ECK Associates Corp lifted its holdings in shares of POSCO by 8.4% during the 3rd quarter. Van ECK Associates Corp now owns 79,859 shares of the basic materials company's stock valued at $8,186,000 after acquiring an additional 6,202 shares in the last quarter. Finally, CWA Asset Management Group LLC boosted its position in POSCO by 26.3% during the 3rd quarter. CWA Asset Management Group LLC now owns 77,073 shares of the basic materials company's stock worth $7,900,000 after purchasing an additional 16,052 shares during the period.

Analysts Set New Price Targets

Separately, StockNews.com cut POSCO from a "buy" rating to a "hold" rating in a research note on Friday, April 26th.

POSCO Stock Up 0.3 %

Shares of NYSE PKX traded up $0.25 during trading on Thursday, reaching $73.60. 44,222 shares of the stock were exchanged, compared to its average volume of 109,122. The business's 50-day moving average price is $76.61 and its 200 day moving average price is $82.86. The company has a market capitalization of $22.26 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 0.60 and a beta of 1.46. POSCO Holdings Inc. has a twelve month low of $67.42 and a twelve month high of $133.09. The company has a quick ratio of 1.43, a current ratio of 2.08 and a debt-to-equity ratio of 0.25.

POSCO (NYSE:PKX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The basic materials company reported ($0.52) earnings per share for the quarter. The business had revenue of $14.15 billion for the quarter. POSCO had a net margin of 2.09% and a return on equity of 2.50%. As a group, equities analysts forecast that POSCO Holdings Inc. will post 4.65 EPS for the current fiscal year.

POSCO Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Friday, January 1st were issued a dividend of $0.4683 per share. This represents a $1.87 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Wednesday, February 28th. POSCO's dividend payout ratio is currently 36.75%.

POSCO Company Profile

POSCO Holdings Inc, together with its subsidiaries, manufactures and sells iron and steel rolled products in South Korea and internationally. It operates in two segments Steel and Others. The company offers hot and cold rolled steel, steel plates, wire rods, galvanized steel, electrical steel, stainless steel, and titanium.