Short Interest in POSCO Holdings Inc. (NYSE:PKX) Decreases By 15.8%

POSCO Holdings Inc. (NYSE:PKX - Get Free Report) was the recipient of a significant drop in short interest in May. As of May 15th, there was short interest totalling 1,280,000 shares, a drop of 15.8% from the April 30th total of 1,520,000 shares. Approximately 0.4% of the company's shares are short sold. Based on an average daily trading volume, of 368,600 shares, the days-to-cover ratio is presently 3.5 days.

POSCO Trading Up 0.1%

POSCO stock traded up $0.06 during trading on Friday, reaching $47.74. 107,834 shares of the company were exchanged, compared to its average volume of 258,768. POSCO has a 52-week low of $39.40 and a 52-week high of $74.01. The company has a market capitalization of $14.49 billion, a P/E ratio of 21.90, a PEG ratio of 2.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.93 and a quick ratio of 1.35. The stock's 50 day simple moving average is $45.09 and its two-hundred day simple moving average is $46.36.

POSCO (NYSE:PKX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). POSCO had a return on equity of 1.87% and a net margin of 1.55%. The company had revenue of $12 billion for the quarter, compared to analysts' expectations of $12.12 billion. On average, equities research analysts expect that POSCO will post 3.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On POSCO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PKX. Parvin Asset Management LLC acquired a new stake in POSCO during the fourth quarter worth $29,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in POSCO during the fourth quarter worth $41,000. R Squared Ltd acquired a new stake in POSCO during the fourth quarter worth $46,000. GAMMA Investing LLC increased its stake in POSCO by 329.1% during the first quarter. GAMMA Investing LLC now owns 1,605 shares of the basic materials company's stock worth $76,000 after acquiring an additional 1,231 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB increased its stake 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 worth $94,000 after acquiring an additional 2,125 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

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.